The FTSE 100 continued its positive start to the year and opened higher on a day analysts are dubbing “the most important of the trading week,” ahead of the release of US consumer price index figures.
The data could be a “make-or-break moment for market sentiment,” analysts added, as investors hope to see a softening in pricing pressures across the pond.
In the UK, rising costs have led the Financial Conduct Authority to warn that 750,000 households risk falling behind and defaulting on mortgage payments in the next few years.
Elsewhere in the UK Tesco says its full-year profit guidance remains unchanged at £2.4-£2.5bn, following strong trading seen during the Christmas period.
M&S also outshone expectations, posting a strong set of results that saw sales grow by almost 10% in the weeks running up to the holiday.
And among the small caps, AIM listed cleaning and kitchen oil filtration group Franchise Brands was up on the news it would likely exceed full-year sales and profit expectations.
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