LIVE MARKETS-UK stocks outshine in Europe as inflation slows
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UK STOCKS OUTSHINE IN EUROPE AS INFLATION SLOWS
Europe's STOXX 600 .STOXX is up 0.3%, with UK assets outshining the rest this morning following a softer-than-expected UK inflation print for December.
The FTSE 100 .FTSE is up 0.7% while the FTSE 250 .FTMC, which generates a greater proportion of revenue domestically, is up 1.4%, having briefly been on track for its biggest daily jump since July.
The prospect of lower interest rates after the inflation print is spurring a surge in shares of UK homebuilders. A basket of names .FTNMX402020 is rising 3.8% with the charge higher led by Vistry Group VTYV.L, up 7.8% even after flagging an uncertain outlook.
The UK homebuilder is topping the broader STOXX 600 as well, and a European basket of real estate stocks .SX86P is up 1.2%, the best performing sector today.
On the other hand, luxury stocks .STXLUXP are down 0.7%, the worst off sector.
Swiss testing and inspection company SGS SGSN.S is the biggest faller, off 4.2% after news that the company is in talks with Bureau Veritas BVI.PA to combine. Shares in the latter are up 3.8% on the news.
Some positive earnings stories are also lifting UK stocks.
At the top of the FTSE 100 is animal genetics firm Genus GNS.L, up 19% after it said it sees FY 2025 adjusted pretax profit at the top end of expectations, with electricals retailer Currys CURY.L next, up 10% after raising its annual profit outlook.
(Lucy Raitano)
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FOR WEDNESDAY'S OTHER LIVE MARKETS POSTS
EUROPE BEFORE THE BELL: FTSE FUTURES OUTPERFORM ON SOFT INFLATION DATA CLICK HERE
INFLATION DUO TAKES CENTRE STAGE CLICK HERE
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