FTSE 100 Surges To Record High Before Decline

FTSE 100 Surges To Record High Before Decline

The UK stock market experienced notable gains in early August, with the FTSE 100 reaching a record before slipping at week’s end.
Buoyed by strong earnings in mining and energy, investors shrugged off global trade tensions and concerns over Chancellor Reeves’ potential resignation.
However, the rally was checked by fresh economic strains: UK inflation ticked up to 3.6% in June, a year-and-a-half high, and unemployment hit a four-year peak at 4.7%.
Business investment and wage growth have also slowed, attributed to higher National Insurance contributions.
Economists warn softer growth is likely for the rest of the year as tighter financial conditions persist and companies grapple with increased costs.

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