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Waning fears over U.S. inflation push FTSE 100 to fourth weekly rise
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작성자 Sylvia Hatley 조회1,243회 댓글0건 작성일22-08-27 05:00본문
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, Online Betting aided by weakness in sterling and its large exposure to energy and online betting 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 a 0.3% drop.
However, the data still pointed to growing weakness among consumer-facing sectors of the economy, 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, Online Betting 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, Online Betting aided by weakness in sterling and its large exposure to energy and online betting 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 a 0.3% drop.
However, the data still pointed to growing weakness among consumer-facing sectors of the economy, 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, Online Betting 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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