UK stocks experienced a modest increase on Wednesday, and the British pound remained stable, despite recent data indicating that UK inflation reached an eight-month peak in November.
The consumer price index recorded an annual rise of 2.6 percent in November, up from the 2.3 percent noted in October.
Core inflation—which excludes the prices of energy, food, alcohol, and tobacco—climbed to 3.5 percent from 3.3 percent.
These figures bolstered expectations that the Bank of England will maintain interest rates during its final meeting of the year on Thursday.
The FTSE 100, UK's leading share index, rose by 26 points, or 0.3 percent, reaching 8,221, following a 0.8 percent decline the previous day.
Kingfisher, a company specializing in home improvements, increased by approximately 1 percent after the successful sale of its Brico Dépôt Romania business to Altex Romania for €70 million.
Character Group, known for toys, games, and giftware, surged by 3 percent after announcing year-end financial results that met market expectations.
Hardide, a firm providing tungsten carbide coatings for engineering components, soared by 29 percent following a decade-long agreement to coat aerospace cargo door components.
The material has been provided by InstaForex Company -
www.instaforex.com
