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FTSE 100 higher ahead of US inflation figures

by LLB Reporter
10th Aug 23 10:49 am

The FTSE 100 was a touch higher at the start of what could be an important day for markets as the US readies its latest inflation numbers.

The last reading provided a positive surprise as it undershot expectations for the first time in a long time. A repeat could revive a flagging equity rally, but a negative shock could accelerate recent selling.

AJ Bell investment director Russ Mould said: “Asian shares were mostly lower overnight after the Biden administration brought forward measures to stop US technology going to China.

“Deliveroo is making strides in becoming a more efficient and financially stable business – just imagine how it would be doing if the market environment had not turned against it. The takeaway platforms enjoyed a portion of super-sized growth during the pandemic but now they’re back on more meagre rations.

“Times may be tough but people are still buying expensive watches judging by Watches of Switzerland’s latest robust update. A market where demand is outstripping supply is never a bad one to be in and whether time is running out on the company’s strong run, for now it is ticking along very nicely indeed.”

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