London stocks rise on strong wage growth data

London stocks gained some ground on Tuesday led by advances in the personal goods sector amid labour market data that showed wages grew stronger-than-expected, though a basket of mixed corporate updates kept investor optimism in check.

The benchmark index FTSE 100 (.FTSE) was up 0.2% and the midcap FTSE 250 index (.FTMC) edged 0.1% higher. “A lot rides on CPI from the US tomorrow but we should prepare for some kind of consolidation,” said Chris Beauchamp, chief market analyst at IG Group, adding that he did not “expect a big move.”

British wages excluding bonuses grew by a stronger-than-expected 6% in the first three months of 2024 compared with the same period a year earlier.

Fidelity Special Values PLC (LON:FSV) aims to seek out underappreciated companies primarily listed in the UK and is an actively managed contrarian Investment Trust that thrives on volatility and uncertainty.

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