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UK Stocks Flat Amid Inflation Data Wait
13 Jan
Summary
- FTSE 100 remained flat, awaiting U.S. inflation data.
- Energy stocks advanced due to supply concerns.
- Raspberry Pi shares dropped on supply chain volatility.
On Tuesday, the UK's FTSE 100 index saw little change, hovering near its recent record close as market participants absorbed corporate news and awaited crucial U.S. inflation figures. This significant economic report is expected to provide insights into future interest rate paths and overall market sentiment.
Energy stocks, including major players like BP and Shell, posted gains, buoyed by concerns over potential disruptions to oil exports from Iran and Venezuela. Other sectors such as media, beverages, and real estate also experienced upward movement as investors sought refuge in income-generating and rate-sensitive assets ahead of the inflation data release.
Conversely, the precious metals and mining sector experienced a notable decline after a strong performance in the prior session. Individual company news also impacted the market, with Raspberry Pi shares falling due to supply and pricing uncertainties for memory components, while Whitbread shares climbed on expectations of a reduced impact from business rate hikes.
