UK Stocks Turning In Mixed Performance; Mining Stocks Move Up

(RTTNews) - U.K. stocks are turning in a mixed performance Wednesday morning with investors reacting to earnings updates and other corporate news, in addition to digesting the data showing a slower than expected increase in the nation's consumer price inflation in the month of October.

The benchmark FTSE 100 was up 6.55 points or 0.07% at 9,558.85 a little while ago. The index is moving in a tight band since morning.

Fresnillo is gaining nearly 6.5%. Endeavour Mining is up 4%. Antofagasta, Metlen Energy & Metals, Antofagasta and JD Sports Fashion are up 2 to 3%.

ICG, Convatec Group, Diploma, Spirax Group, Associated British Foods, Anglo American Plc, WPP, Imperial Brands, Entain, British American Tobacco and Shell are up 1 to 2%.

Sage Group is gaining 3.5%. The enterprise software company reported better-than-expected FY25 results and launched a share repurchase program of up to 300 million-pound-sterling.

Tesco is modestly higher. The retailer of consumer goods has launched the third tranche of its existing £1.45 billion share buyback program, with a value of up to £350 million.

Beazley, St. James's Place, Segro, Severn Trent and Natwest Group are down 0.8 to 1.6%.

Lloyds Banking Group is down in negative territory with a modest loss. The lender has agreed to acquire fintech company Curve as part of a strategic move to enhance its digital transformation.

British Land is showing weakness despite reporting a 1.2% rise in the value of its U.K. property portfolio in the six months through September.

Data from the Federal Statistical Office showed UK consumer price inflation eased in October, ahead of the Autumn budget announcement. The moderation has eased pressure on households and raised hopes of interest rate cut in December.

The consumer price index logged an annual growth of 3.6% in October, slower than the 3.8% rise in September. However, inflation was slightly faster than economists' forecast of 3.5%.

On a monthly basis, the CPI moved up 0.4%, in line with expectations, after remaining flat in September.

Core inflation that excludes prices of energy, food, alcohol and tobacco, edged down to 3.4% from 3.5% in September.