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Evening Standard

Business

Michael Hunter,Graeme Evans and Daniel O'Boyle

FTSE 100 Live 12 March: UK GDP in focus after index closes up 1% to 2024 high, US inflation setback

Interest Rates United Kingdom

Markets are digesting what the latest jobs and wages figures mean for the prospect of interest rate cuts, as ONS figures showed unemployment ticked up to 3.9% but annual wage growth remains higher than the Bank of England’s liking at 6.1%.

The FTSE 100 Index closed 1% higher, with UK traders undeterred by hotter-than-expected US inflation.

Elsewhere, the competition watchdog has launched a formal investigation into the veterinary sector and Persimmon and Domino’s Pizza UK have posted results.

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