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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Fidelity Special Values

More articles like this

Fidelity Special Values

FTSE 100 rises amid budget concerns and market gains

The UK’s FTSE 100 managed a slight increase on Friday, bouncing back from a recent near-three-month low as a positive shift in some sectors helped counteract inflation concerns sparked by Britain’s latest budget announcement. By 9:54

Fidelity Special Values

UK markets rise as investment focus grows

The FTSE 100 saw gains on Monday, closing up by 39.01 points, or 0.5%, at 8,292.66, while the FTSE 250 rose 52.26 points, or 0.3%, to 20,817.19. Despite these positive moves, the AIM All-Share dropped slightly,

Fidelity Special Values

FTSE 100 edges higher as UK jobs market cools

The FTSE 100 made a modest gain of 0.1% this morning, supported by gains in the industrial sector and signs of a cooling UK jobs market, providing a positive outlook for UK equities. This small rise

Fidelity Special Values

Investor sentiment shifts in favour of UK equities

For the first time in over three years, investors who are optimistic about UK equities now outnumber those who are more pessimistic. This shift is a significant development, reflecting a more favourable outlook for British stocks.

Fidelity Special Values

UK inflation hits 2% target boosting market confidence

UK inflation reached the Bank of England’s 2% target for the first time in nearly three years, offering some relief to markets. The Office for National Statistics (ONS) reported that the Consumer Prices Index (CPI) fell

Fidelity Special Values

FTSE 100 holds strong after a week of gains

On Friday, the UK’s FTSE 100 experienced a slight dip, declining by 0.2% by 0716 GMT. This drop followed five consecutive days of gains, setting the stage for a solid weekly performance. Despite the minor setback,

Fidelity Special Values

Britain’s economy shows stronger growth in 2022

Britain’s economy experienced stronger growth in 2022 than initially estimated, according to revised data from the Office for National Statistics (ONS). This revised data attributes the improvement to the oil and gas sector, which benefitted from

Fidelity Special Values

British stocks surge on interest rate cut speculation

Britain’s domestically-focused stocks have reached a two-year high as traders bet on the Bank of England cutting interest rates for the first time in four years. The midcap FTSE 250 index climbed by 0.6% to 21,486.01,