Newspaper article The Journal (Newcastle, England)

FTSE Up as New Figures See UK Inflation Fall

Newspaper article The Journal (Newcastle, England)

FTSE Up as New Figures See UK Inflation Fall

Article excerpt

Byline: FTSE 100 thomas smith Brewin Dolphin

AFTER opening in the red the FTSE 100 Index rallied hard throughout the day to close up 60 points at 6796. Investor optimism improved after new figures saw UK inflation fall.

The Office for National Statistics (ONS) said that consumer price inflation slowed in January to an annual rate of 1.9%. The rate fell below the Bank of England's target of 2% for the first time in more than four years. The announcement provides more leeway for the Bank of England to keep interest rates lower for longer and provided a boost for UK equities during the session.

The ONS also announced that the average price of a house across the UK has risen to PS250,000 which marks the first time the average has reached the quarter of a million pound threshold.

Within the FTSE 100 Index financial constituents rallied on the back of the improved sentiment. Royal Bank of Scotland and Barclays closed up 2.4% and 2.1% respectively. …

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