Waning fears over U.S. inflation push FTSE 100 to fourth weekly rise
작성일 22-11-01 13:34
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작성자Jaime Walder 조회 485회 댓글 0건본문
By Sruthi Shankar
Aug 12 (Reuters) - Britain's top share index logged its fourth consecutive week of gains on Friday, as global sentiment got a boost from signs of waning U.S. inflation even as domestic data showed Britain's economy contracted in the second quarter.
The blue-chip FTSE 100 ended 0.5% higher at a two-month high. The index has outperformed its global peers this year, aided by weakness in sterling and its large exposure to energy and defensive companies.
Sterling slid against a firming dollar as data showed Britain's economy contracted by 0.1% in the June quarter, compared with forecasts for Online Betting a 0.3% drop.
However, the data still pointed to growing weakness among consumer-facing sectors of the economy, Online Betting such as retail and restaurants, that are most exposed to a worsening cost-of-living crisis.
"The fall in UK GDP during the second quarter was largely down to noise," James Smith, economist at ING, wrote in a note.
"But the risk of recession is rising quickly, with gas futures hitting new highs for next winter and our latest estimates suggesting the household energy price cap could come close to 5,000 pounds in the second quarter of next year.
Aug 12 (Reuters) - Britain's top share index logged its fourth consecutive week of gains on Friday, as global sentiment got a boost from signs of waning U.S. inflation even as domestic data showed Britain's economy contracted in the second quarter.
The blue-chip FTSE 100 ended 0.5% higher at a two-month high. The index has outperformed its global peers this year, aided by weakness in sterling and its large exposure to energy and defensive companies.
Sterling slid against a firming dollar as data showed Britain's economy contracted by 0.1% in the June quarter, compared with forecasts for Online Betting a 0.3% drop.
However, the data still pointed to growing weakness among consumer-facing sectors of the economy, Online Betting such as retail and restaurants, that are most exposed to a worsening cost-of-living crisis.
"The fall in UK GDP during the second quarter was largely down to noise," James Smith, economist at ING, wrote in a note.
"But the risk of recession is rising quickly, with gas futures hitting new highs for next winter and our latest estimates suggesting the household energy price cap could come close to 5,000 pounds in the second quarter of next year.
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