Britain’s FTSE 100 closed higher on Wednesday, reaching a one-week peak, as expectations of a U.S. Federal Reserve interest rate cut buoyed demand for risk assets globally.
The blue-chip index CURRENCYCOM:UK100 finished 0.2% higher, marking its third consecutive day of gains, while the domestically focused midcap FTSE 250 index MCX ended little changed.
European bourses outperformed the FTSE 100 as losses in energy and financial stocks weighed on the London’s benchmark.
Global equities rallied following Tuesday’s U.S. inflation data, which aligned with expectations and strengthened confidence in a September rate cut by the Fed, propelling Wall Street to record highs.
This positive sentiment also lifted British markets, with healthcare stocks (.FTNMX201030) leading gains, up 2.7%.
Contrasting with U.S. optimism, British labour data on Tuesday revealed weak hiring alongside persistent wage growth – complicating the Bank of England’s…
