UK’s FTSE 100 ended Wednesday higher, clinging on to recent highs after data showed the local economy returned to growth at the start of 2024, while insurance firm Direct Line weighed on the midcap index post rejecting a sweetened take over bid.
The exporter-heavy FTSE 100 (.FTSE), opens new tab closed up 0.3%, notching a new nine-month high, while the more domestically focused FTSE 250 index (.FTMC), opens new tab ended flat.
British gross domestic product grew in January by 0.2% month-on-month, in line with economists’ expectations, boosted by a rebound in retailing and house-building, offering some relief to Prime Minister Rishi Sunak ahead of an election expected this year.
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