LONDON, June 22 ― London's FTSE 100 ended higher yesterday, helped by gains in mining and industrial stocks, while supermarket chain Morrisons was the top gainer on the mid-cap index following a proposed takeover offer.
Meanwhile, a spike in inflation, which surged past the Bank of England's target in May, further raised concerns among investors that the central bank could pull back its monetary support in a meeting due later this week. “We're not going to see central banks be in a rush to pull the plug out on stimulus, we're still in a market where there's going to be a healthy amount of accommodation,” said Edward Moya, senior analyst at Oanda.
Industrials gained 1 per cent, led by outsourcer Capita, which rose 9 per cent after it said it was on track to post revenue growth for the first time in six years and agreed to sell its 51 per cent stake in Axelos.
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