The FTSE 100 is up despite inflation fears Business News

London’s FTSE 100 edged up with gains in industrial and defensive stocks, although news of the UK inflation spike dampened profits.

The blue chip index finished 12 points or 0.2% higher at 7,184, while the domestically focused FTSE 250 index finished down 14 points.

Shares fell on Wall Street on Wednesday after the U.S. Federal Reserve pushed its rate hike schedule forward one year to 2023 in response to rising inflation. The S&P 500 fell 0.5%, the Dow Jones Industrial Average fell 0.8%, and the Nasdaq fell 0.2%.

The Federal Reserve began closing the door on its pandemic-induced monetary policy on Wednesday as officials predicted an accelerated timeline for interest rate hikes, opened discussions on how to end bond purchases in period of crisis and declared the 15-month-old health emergency. was no longer an essential constraint on American commerce.

Asian markets plunged Thursday after their US peers. Nikkei 225 was down 1%, Shanghai Composite traded with marginal gains and Hang Seng was up 0.2%.

Indian indices also traded lower on Thursday, following losses by their global peers following the Fed’s move, with Sensex down more than 140 points and Nifty down 0.3%.

Additional reports by agencies

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This notice was published: 2021-06-17 05:17:18

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