Business | Business News UK stock markets outperformed European peers on Friday as fresh data from the US showed inflation in the world’s largest economy was continuing to cool. The FTSE 100, which is largely internationally-focused, moved 44.33 points higher, or 0.
54%, to close at 8,275.38. The top UK index was boosted by gains for utilities companies, with National Grid, Centrica , Severn Trent and United Utilities among the biggest risers of the day.
It was a busy day for global economics news with new inflation data coming from the US, Eurozone and France on Friday. Across the pond, the Federal Reserve’s preferred inflation measure remained unchanged last month, while the core personal consumption expenditures (PCE) index slowed during April. Inflation figures from France and the Eurozone were hotter than expected, signalling that the battle against inflation is far from over Chris Beauchamp, chief market analyst at IG “After the mixed trading of recent weeks investors were glad to see the slowdown in core PCE, which provided a boost for beleaguered equities,” said Chris Beauchamp, chief market analyst at IG.
“While it leaves expectations around the June Fed meeting unchanged, it at least allays some worries that an interest rate hike was becoming more likely. “However, inflation figures from France and the Eurozone were hotter than expected, signalling that the battle against inflation is far from over.” Summer holiday prices increase amid soaring demand FT.
