UK FTSE 100 Pauses on Hot Inflation
The UK FTSE 100 index remained little changed as hotter-than-expected September inflation reinforced bets on a Bank of England rate hike. Energy stocks gained on rising crude prices while government borrowing exceeded forecasts.
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The United Kingdom's FTSE 100 fell 0.1% to 10,723.02 points during Wednesday morning trading as hotter inflation data drove rate-hike expectations. That pause follows two consecutive sessions of losses for the blue-chip index. Money markets are pricing in a 98.8% probability of a 25-basis-point BoE rate hike in November, according to LSEG data.
