FTSE 100 Live: UK GDP set to guide market following blue-chip index’s record 2024 close 

The daily London market update: Market moving news from the FTSE 100 and around the world from City A.M.

Mar 13, 2024 - 07:02
FTSE 100 Live: UK GDP set to guide market following blue-chip index’s record 2024 close 

The latest updates on the FTSE 100 and London’s financial markets from City A.M.’s newsroom in the heart of the City of London.

Overnight, S&P 500 rose by 1.1 per cent, driven by tech gains, while Asian markets remained cautious on Wednesday trading.

Hang Seng rose by 0.2 per cent, but CSI 300 fell by 0.2 per cent. The US dollar stable at 102.91; Japanese yen strengthens to 147.34. Gold edges up to $2159.9 per ounce. Bitcoin up by 0.71 per cent to $71,991.00; Ether rises to $4,017, nearing previous highs. 

Oil prices rise on strong global demand, with Brent futures hitting $82.37 per barrel and US crude contracts reaching $78.02. 

Toyota offers its largest pay raise in 25 years for factory workers, potentially influencing broader wage trends. 

US consumer prices surged in February, dampening hopes for a Fed rate cut before June. Core inflation remains high, suggesting the Fed will maintain rates next week. 

All eyes were trailed on the markets this morning, after the UK took its first steps out of recession, with the economy returning to growth in January.

The latest figures from the Office for National Statistics raise hopes that last year’s contraction is already over.

Also in the spotlight will be US retail sales data and producer price reports later this week.