The FTSE 100 is set to claw back a sliver of yesterday’s heavy losses on Wednesday, after fresh data showed UK inflation cooled slightly last month.
Consumer price inflation rose 3.6% year-on-year in October, easing from 3.8% in September, with prices up 0.4% on the month. The core CPI measure – which strips out volatile food and fuel – also edged lower, to 3.4% from 3.5%, while services inflation dipped to 4.5% from 4.7%.
On the futures market, London’s blue-chip index is being called 20 points higher, after tumbling 123 points (1.3%) on Tuesday to 9,552.3.
The move comes after a fourth straight day of declines for global equities. Wall Street joined the slide yesterday, led by tech stocks: the Nasdaq fell 1.2%, the Dow Jones dropped 1.1%, and the S&P 500 slipped 0.8%.
All eyes are now on Nvidia’s earnings, due after the US market close. Analysts expect a blockbuster performance, forecasting a 56pc jump in revenue to $54.9bn (£41.8bn) for the three months to October, according to LSEG data.
Asian trading is mixed this morning. Benchmarks in Japan, South Korea and Hong Kong are modestly in the red, while markets in mainland China and India are edging higher.
Japan’s Nikkei, already the worst-performing major index in November with a 7pc drop in US dollar terms, surrendered early gains to trade flat. Mainland Chinese markets were steady, while Hong Kong’s Hang Seng slipped 0.5pc.
