FTSE 100 Holds Steady As Shop Price Inflation Falls

(RTTNews) - U.K. stocks were little changed on Tuesday after data showed U.K. shop price inflation weakened to a near two-year low in February.

According to the British Retail Consortium, the shop price index posted an annual increase of 2.5 percent on a yearly basis in February, slower than the 2.9 percent rise in January.

This was the lowest since March 2022. The rate was also below the 3-month average of 3.3 percent.

The benchmark FTSE 100 was marginally higher at 7,686 after falling 0.3 percent in the previous session.

A softer dollar lifted mining stocks, with Anglo American climbing 2.7 percent.

Asset manager Abrdn soared almost 5 percent after narrowing its full-year losses and announcing plans to cut around 500 jobs as part of a cost reduction program.

Medical device giant Smith & Nephew rallied 2.5 percent after posting improved financial results for Q4 and full year 2023.