London's FTSE 100 gained for the fourth straight day on Wednesday as higher crude prices pulled up oil stocks, while caution ahead of U.S. inflation data and minutes from the Federal Reserve limited gains.
After the U.S. jobs report last week showed a resilient labour market, the inflation data and Fed minutes later in the day are seen as key to gauging the path of interest rate hikes in the world's largest economy.
"The FTSE 100 is falling in line with the positive sentiment we saw at the start of the week, overlooking the China-Taiwan tensions," said Giles Coghlan, chief market analyst at HYCM.Bank of England Governor Andrew Bailey is also scheduled to speak later in the day. While concerns over a potential recession in the U.S. amid persistent inflation have weighed on sentiment recently, the FTSE 100 has been on a positive streak, helped by commodity stocks and defensives including pharmaceuticals.slumped 17.1% after the company said it expects to report a wider operating loss due to increased costs.
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