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London open: Stocks rise on rate-cut hopes after inflation slowdown
UK stocks were putting in solid gains on Wednesday morning after a sharper-than-expected fall in consumer price inflation all but cemented a rate cut at the Bank of England's next meeting.
Primary Health Properties rent growth slows amid falling inflation
Healthcare facilities investor Primary Health Properties reported an additional £2. 7m in rental income in a third quarter update on Wednesday - a slight decrease compared to £3. 3 million for the same period in 2023.
Third-quarter iron ore production ticks higher at Rio Tinto
Anglo-Australian miner Rio Tinto left its annual iron ore forecasts unchanged on Wednesday, after third quarter production edged higher.
Europe open: Shares follow US, Asia lower; weak LVMH sales hit luxury sector
European shares were lower at the open on Wednesday after a mixed session on Asian markets and declines on Wall Street, while investors also digested the latest UK inflation data showing a fall below 2% for the first time in three years.
GSK UTI treatment gets FDA priority review status
GSK announced on Wednesday that the US Food and Drug Administration (FDA) has accepted its new drug application (NDA) for gepotidacin, a first-in-class oral antibiotic, under priority review.
Antofagasta reiterates guidance after 15% jump in Q3 production
Copper mining giant Antofagasta reported a 15% increase in third-quarter production as it maintained expectations for full-year output to hit the lower end of guidance.
London pre-open: FTSE 100 called higher, UK CPI and Trump in focus
Stock futures were pointing to a slightly higher start for London's top-flight index on Wednesday following the release of a weaker-than-expected reading on UK inflation.
FDA accepts GSK new drug application, Whitbread raises half-year dividend
London open The FTSE 100 is expected to open 17 points higher on Wednesday, having closed down 0. 52% on Tuesday at 8,249. 28.
Wednesday newspaper round-up: Water firms, Labour tax raid, Boeing, BMW
The future ownership of the water industry should be decided by a citizens’ assembly to remove decision-making from boardrooms and impose democracy on the sector, a private member’s bill is to argue. Labour MP Clive Lewis, who in the past has called for water to be put back into public ownership, will introduce his bill on the future of water ownership and management later today. - Guardian.
UK inflation drops below 2% for first time in three years
UK inflation dropped sharply in September to its lowest level in two and a half years, according to data from the Office for National Statistics on Wednesday, likely ramping up the pressure on the Bank of England to get more aggressive with monetary easing.