FTSE 100 Approaches Record High Amid Economic Anticipations
London's FTSE 100 nearly reached a record high as investors awaited a U.K. spending review and key U.S. inflation data. Homebuilders rose while energy stocks declined marginally. Meanwhile, U.S.-China trade talks progressed, and WSP Global announced its acquisition of Ricardo, leading to significant market movements.
Investors were on edge as London's FTSE 100 inched closer to a record high on Wednesday, with significant economic events on the horizon. Markets were poised for a domestic public spending review and U.S. inflation data that could set the tone for future economic developments.
The FTSE 100 saw a modest increase of 0.1%, flirting with an intraday peak. Finance Minister Rachel Reeves is expected to allocate over 2 trillion pounds in public spending to revitalize the British economy. This anticipation was mirrored by a 2.8% surge in homebuilders and household goods stocks, while energy shares faced minor declines.
Globally, attention also focused on U.S.-China trade negotiations, as representatives from both sides agreed to revive their trade truce. The anticipated positive developments come as WSP Global plans to acquire Britain's Ricardo, stirring further market dynamics. Investors remained vigilant for any signs of the trade deal's fruition.
(With inputs from agencies.)
Google News