Inflation Eases in Britain and London Stock Exchange Index Rises

The London Stock Exchange index rose as inflation eased for Britain.

Stocks have largely risen since data released last week showed US inflation continuing to ease toward the Fed’s 2% target.

Other indicators showing the good state of the US economy also raised hopes that the US central bank is close to ending its interest rate hike campaign without triggering an economic recession.

Investors expect the FRS to raise interest rates at its meeting next week but leave them unchanged later.

Oil prices fell despite worries about crude supply.

The Dow Jones Industrial Average rose 0.3% to 35,061.21 on Wednesday, the Standard & Poor’s 500 rose 0.2% to 4,565.72, and the Nasdaq Composite gained less than 0.1% to 14,358.02 points.

London’s FTSE 100 rose 1.8% to 7,588.20 on Wednesday, Frankfurt’s DAX fell 0.1% to 16,108.93 and Paris’ CAC 40 rose 0.1% to 7,326. 94 points.

WTI crude fell 0.5% to $75.35 a barrel in electronic trading on the New York Stock Exchange on Wednesday. “Brent” crude oil price on the London exchange decreased by 0.2% to 79.46 dollars per barrel.

On the Dutch stock exchange “Title Transfer Facility” (TTF) natural gas price fell by 0.39% to 26.96 euros per megawatt hour on Wednesday.

The euro fell from $1.1235 to $1.1204 per euro on Wednesday, the British pound fell from $1.3040 to $1.2937 per pound, and the dollar rose against the Japanese yen from 138.87 to 139.71 yen per dollar. The value of the euro against the British pound increased from 86.13 to 86.59 pence per euro.

2023-07-20 04:23:00
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