Forex
FTSE 100 Soars 87 Points Amid Stronger UK Growth
The FTSE 100 index rose by 87 points to 10,695 on Friday, ending a five-day losing streak. The boost was driven by easing oil prices and stronger-than-expected UK economic growth data.
UK GDP increased by 0.4% in July, beating City forecasts of no growth at all. This comes as a welcome development for Chancellor John Healey ahead of the 28 October Budget.
The US inflation rate matched market forecasts with an annual increase of 3.4%. Wall Street responded positively to this news, with the Dow Jones rising by 140.4 points and the S&P 500 gaining 0.59%.