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Market Update: UK Stocks End at 16-Month High
The FTSE 100 closed higher at 7,185 on Wednesday, its highest close since February 2020, as investors awaited the outcome of the US Federal Reserve’s policy meeting, which should mark the start of a bond-buying tapering process. Recent data showing a spike in US consumer and producer prices raised concerns over rising inflation, while Fed officials have reiterated that inflationary pressures are transitory. On the economic data front, the UK inflation rate rose more than expected in May to the highest level since July 2019 and above the Bank of England’s 2.0% target. [/s2If]
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