FTSE 100 made a bright start as inflation in the UK undershot forecasts in December.
London’s blue-chip index was up 51 at 8,253 led by the housebuilders after Persimmon’s reassuring statement yesterday.
Hopes for mortgage rates also got a boost after bond yields dropped following the inflation data.
Consumer prices index climbed by 2.5% last month, against November’s 2.6% rise and below expectations for another 2.6% uptick.
Electrical retailer Currys profits will outstrip market expectations this year and shareholders get the benefit through a dividend after strong trading over the peak Christmas period. Profits this year will rise between 23% to 31% as seasonal sales jumped by 2% driven by mobile, gaming and premium computing goods.
Royal Mail owner IDS was another Christmas beneficiary as sales edged up to £3.7 billion on increased international parcel volumes over the key seasonal period.
Finally, online retailer ASOS is to shut its Atlanta distribution centre in the US to boost profitability. US customers will be served by an automated UK fulfilment centre in Barnsley.
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