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FTSE 100 Edges Higher As Grocery Inflation Declines In June

2024-12-29iFOREXiFOREX
U.K. stocks traded slightly higher on Tuesday after industry data showed U.K. grocery inflation fell for a sixteenth month in a row in June.
FTSE 100 Edges Higher As Grocery Inflation Declines In June

(RTTNews) - U.K. stocks traded slightly higher on Tuesday after industry data showed U.K. grocery inflation fell for a sixteenth month in a row in June.

Annual grocery price inflation dropped to 2.1 percent in the month to 9 June from 2.4 percent in the previous four-week period.

The benchmark FTSE 100 was up 37 points, or half a percent, at 8,179 after finishing marginally lower on Monday.

In corporate news, Whitbread rallied 3.5 percent. The hotel group reiterated its annual forecast despite posting flat first quarter sales.

Equipment rental firm Ashtead Group lost nearly 4 percent after it forecast slower growth in rental revenue for fiscal 2025.

Frasers Group added 1 percent after launching a new share buyback program of up to £80m to reduce share capital of the company.

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