London stocks edged cautiously higher in early trade on Wednesday as investors eyed a key US inflation reading and the latest minutes from the Federal Reserve. At 0830 BST, the FTSE 100 was up 0.3% at 7,805.72.
The consumer price index for March is due at 1330 BST, while the minutes are scheduled for release at 1900 BST.
Richard Hunter, head of markets at Interactive Investor, said: “The week now gets into full swing with the release of the consumer price index later today. Estimates vary on the outcome of a release which will give the Federal Reserve further food for thought. The general expectation is that the CPI will have increased by 0.2% in March, as compared to a gain of 0.4% in February, but the core inflation number – which excludes energy and food prices – is estimated to have risen by 0.4%, and by 5.6% year-on-year.
“Indeed, while it is clear that there is some cooling of the headline inflation number, attention is likely to turn to some of the underlying measures which have so far proved more difficult to budge, such as clothing, insurance and furnishings in addition to volatile energy and food levels.”
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.
