UK stocks rise as April inflation slows to 2.8 percent
The FTSE 100 gained 1% on Wednesday after softer inflation data tempered expectations for aggressive Bank of England rate hikes. Retailer Marks and Spencer led gains following a positive profit outlook while falling oil prices boosted global risk sentiment.
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United Kingdom equities rose on Wednesday afternoon as the X FTSE 100 1C climbed 1% to 10,569.3 points. The rally followed an April inflation reading of 2.8%, which came in below the 3.0% forecast. Lower price pressures reduce the immediate need for the Bank of England to implement aggressive interest rate hikes.
