FTSE 100 Closes Above 7,000, But US Stocks Fall Amid Inflation Data Business News

London’s FTSE 100 edged higher on Wednesday, supported by positive earnings updates from companies like Diageo and stronger-than-expected monthly GDP data, bolstering hopes of an economic recovery.

The blue-chip FTSE 100 closed 56 points higher, or 0.82% higher, at 7,004, with the oil giants among the early gainers as crude prices firmed. But the FTSE 250 midcap fared worse and fell 55 points, or 0.27 percent, to 22,107.

Meanwhile, US stocks plunged sharply on the release of inflation figures. The increase in the consumer price index in the United States in April of this year was 4.2%, compared to a year earlier, the highest level since September 2008.

The Dow Jones fell more than 371 points, or 1.08 percent to 33,898. The S&P 500 lost more than 58 points to 4,094 and the Nasdaq Composite stock market fell 295 points to 13,094.

A selloff in US government bonds also accelerated, pushing the yield on the benchmark 10-year bond by 0.06 percentage point to 1.68%.

On Thursday morning, Asian stocks fell on weakness in global indices and rising commodity prices, as the regional benchmark erased its gains for the year. Japan’s Nikkei 225 fell more than 1.5% at noon, while Hang Seng was down around 0.9%. Shanghai Composite was also down 0.7 percent.

Indian markets have remained closed due to Eid al-Fitr.

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This notice was published: 2021-05-13 04:55:26