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British FTSE 100 rises amid inflation


August, 17 2022
watermark Economic news

On Wednesday, the British FTSE 100 index shows growth after the release of inflation data in the UK. According to recent statistics, inflation in the country has reached double digits for the first time in four decades: consumer prices in July increased by 10.1% in annual terms. Analysts note that the last time inflation in the UK was above 10% was in 1982.


The growth of the consumer price index exceeded the forecasts of analysts, who expected an indicator of 9.8%. In June, the inflation rate in the country was 9.4%.


Now market participants believe that the probability of a rate hike by the Bank of England by half a percent in September exceeds 85%.


After the publication of the data, the blue-chip index gained 0.1%, and the FTSE 250 index of mid-cap companies rose 0.2% (to 7,512.09). The UK banking sector index rose 0.5%, while Barclays securities added 1.4%. 


Carnival Plc stock prices rose by 5.3% after Carnival Cruise Line announced a relaxation of the requirements for testing passengers on COVID-19.


Shares of Cineworld, on the contrary, fell in price by 39.1% after the world's second-largest cinema chain said that attendance at its halls will decrease over the next three months due to limited release of films.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.