London stocks edged up in early trade on Wednesday, lifted by well-received results from the likes of ITV and Marks & Spencer, as investors eyed the latest US inflation reading.
At 0835 GMT, the FTSE 100 was up 0.3% at 7,295.23.
CMC Markets analyst Michael Hewson said: “Today’s US CPI numbers for October are expected to push above the levels seen back in 2008, when they hit 5.6%, with expectations we could see a rise to 5.9%, which would be the highest level since 1990, while core prices are expected to come in at 4.3%, also a multiyear high.
“With a number of Fed policymakers making louder noises about the need for rate hikes next year, a strong number here could well prompt a rebound in US yields which have declined quite sharply in the last week or so, with the 10-year down over 15 basis points from last week’s highs.”
Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.