UK 100Largo
FTSE Up 22.56 Points, Safety Shares Support Market
London stocks closed higher on Wednesday (July 17) as geopolitical risks boosted safe-haven stocks such as healthcare and consumer staples, while stronger-than-expected inflation data tempered expectations of a rate cut by the Bank of England (BoE).
Meanwhile, the FTSE 100 index on the London Stock Exchange closed at 8,187.46 points, up 22.56 points or +0.28%, recovering from a 0.4% decline in the morning.
Global investors have been concerned by US presidential candidate Donald Trump's questioning of US support for Taiwan and reports the US is considering tighter controls on semiconductor exports to China.
Energy stocks rose 0.8% on the back of a gain in oil prices, which rose after a weaker dollar and a report that U.S. crude inventories fell.
The UK consumer price index came in at 2%, against expectations of a decline, raising uncertainty about the start of a BoE rate cut, with the chances of a rate cut in August down to 33% from 49% before the inflation data.
The market's next focus will be on the release of UK jobs and retail sales data on Thursday.
Meanwhile, the FTSE 100 index on the London Stock Exchange closed at 8,187.46 points, up 22.56 points or +0.28%, recovering from a 0.4% decline in the morning.
Global investors have been concerned by US presidential candidate Donald Trump's questioning of US support for Taiwan and reports the US is considering tighter controls on semiconductor exports to China.
Energy stocks rose 0.8% on the back of a gain in oil prices, which rose after a weaker dollar and a report that U.S. crude inventories fell.
The UK consumer price index came in at 2%, against expectations of a decline, raising uncertainty about the start of a BoE rate cut, with the chances of a rate cut in August down to 33% from 49% before the inflation data.
The market's next focus will be on the release of UK jobs and retail sales data on Thursday.
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