London stocks inch up tracking Wall Street gains; eye on BoE comments

London stocks inch up tracking Wall Street gains; eye on BoE comments
London stocks inch up tracking Wall Street gains; eye on BoE comments

Hello and welcome to the details of London stocks inch up tracking Wall Street gains; eye on BoE comments and now with the details

Nevin Al Sukari - Sana'a - The blue-chip FTSE 100 gained 0.1 per cent by 0836 GMT (4.36pm Malaysian time), while the midcap FTSE 250 was up 0.7 per cent. — Reuters pic

LONDON, Feb 12 — UK shares edged higher today as markets tracked the upbeat sentiment from Wall Street over the weekend, while investors braced for a data-heavy week, including domestic consumer prices that could offer clues on the monetary policy path.

The blue-chip FTSE 100 gained 0.1 per cent by 0836 GMT (4.36pm Malaysian time), while the midcap FTSE 250 was up 0.7 per cent.

Markets digested the benchmark S&P 500 closing above 5,000 for the first time on Friday, with boosts from megacap stocks, though the focus remained on the raft of economic data this week.

Market participants will await comments from Bank of England Governor Andrew Bailey later in the day, besides domestic and US inflation data later this week, for any clues on when the interest rates might begin easing.

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Pharmaceuticals was a drag, down 1.4 per cent, as AstraZeneca fell 1.9 per cent after Barclays cut its price target for the drugmaker to £12,500 (RM75,170) from £13,500.

Among corporate updates, Frasers Group gained 2.4 per cent after the British retailer said it intends to commence a new share buyback programme with Deutsche Numis for no greater than £80 million. — Reuters

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