London stocks rose in early trade on Wednesday, with caterer Compass pacing the advance after well-received results, as investors eyed the latest US inflation reading.
At 0845 BST, the FTSE 100 was up 0.5% at 7,277.08.
Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: “The market has taken the lead from the US, where the S&P 500 and Nasdaq both produced a positive end to the day’s trading sessions. This is especially welcome news given the tech-heavy Nasdaq’s battering over recent months.
“Less positive notes are being heard in China, where the annual inflation rate has accelerated to 2.1%, up from 1.5% in March. This is the highest level since November and is directly related to the logistic and supply disruption amid the country’s strict Covid curbs.
“More stark is the increase in producer prices, which rose 8% year-on-year. The wider repercussions of this depends on how much longer zero-Covid policies remain, and there have been signs these are going to temper.”
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.
