FTSE 100 Edges Higher Ahead Of US Inflation Data
(RTTNews) - U.K. stocks eked out modest gains to hit a three-month high on Friday as investors await the release of the core PCE price index, a key U.S. inflation measure, due later in the day.
Meanwhile, traders shrugged off data from mortgage lender Nationwide Building Society that showed U.K. house prices dropped for the first time in four months in August despite the fall in mortgage rates.
House prices posted a monthly fall of 0.2 percent, reversing July's 0.3 percent increase.
On a yearly basis, house price inflation accelerated to 2.4 percent from 2.1 percent in July. This was the fastest since December 2022.
The benchmark FTSE 100 was up 22 points, or 0.3 percent, at 8,402 after edging up 0.4 percent on Thursday.
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Private sector employment in the U.S. increased by less than expected in the month of December, according to a report released by payroll processor ADP on Wednesday. The report said private sector employment rose by 122,000 jobs in December after climbing by 146,000 jobs in November. Economists had expected private sector employment to grow by 140,000 jobs.
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U.S. Weekly Jobless Claims Unexpectedly Dip To 201,000
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Amazon's AWS To Invest At Least $11 Bln In Georgia For Cloud, AI Infrastructure
Amazon Web Services or AWS, affiliated to tech major Amazon.com Inc., announced its plan to invest at least $11 billion in the U.S. state of Georgia, aiming to expand infrastructure to support cloud computing and artificial intelligence technologies. The landmark investment in Butts and Douglas counties, which is expected to create at least 550 new high-skilled jobs, would enhance Georgia's...
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Private sector employment in the U.S. increased by less than expected in the month of December, according to a report released by payroll processor ADP on Wednesday.
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Eurozone Economic Sentiment Deteriorates Sharply
Euro area economic confidence deteriorated to the lowest in more than a year in December as the improvement in services sentiment was offset by weaker morale in industry, construction and among consumers. The economic sentiment index dropped more-than-expected to 93.7 in December from 95.6 in the previous month.
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Pound Falls Against Majors
The British pound weakened against other major currencies in the European session on Wednesday.
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Bay Street Likely To Open On Cautious Note
The Canadian market is likely to open on a cautious note on Wednesday with investors awaiting the release of the minutes from the Federal Reserve's most recent monetary policy meeting. Any significant move up or down looks unlikely and trading may remain a bit lackluster for much of the day's session.
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U.S. Dollar Rises On Hawkish FOMC Rate Outlook
The U.S. dollar strengthened against other major currencies in the European session on Wednesday, as traders await the minutes of the Federal Open Market Committee (FOMC) meeting, scheduled for release later in the day.
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