Burnham Vows Tough Decisions as UK Economy Faces Inflation Surge

UK Prime Minister Andy Burnham is prepared to make tough decisions to keep the economy on track, despite rising inflation and speculation about the upcoming October 28 budget. The data showed a surge in inflation, which has fueled speculation about the government's plans for the budget.

In Australia, the stock market finished higher after a shaky start, driven by a rebound in mining stocks following an afternoon increase in metals prices.

A major plumbing supplies group is set to be acquired for $3.9 billion by one of the world's largest private equity groups, unless it receives a higher offer. Meanwhile, mortgage applications have dropped sharply among first-time homebuyers and young people as the property market continues to soften.