LSE sees good start to 2023

The year started well for UK shares, as the FTSE 100 ended the week 3.3% higher, lifted by a 0.9% gain on Friday. Lower-than-expected inflation data in the Eurozone and slower wage growth in the US boosted sentiment.

And this optimism is set to continue this week, with the blue-chip index London's FTSE 100 up 0.1% this morning, fueled by hopes that the Fed will slow its pace of rate hikes.

There's some good news coming from China as well, since authorities lifted quarantine requirements for inbound travelers on Sunday, as it relaxes all Covid restrictions.

This lifted the mining sector, with Antofagasta adding 2.4%.

BT Group gained 1.9% after Citigroup raised its recommendation on the stock. Meanwhile, Keller dropped 4.9% after it said it identified financial reporting fraud in its Austral arm in Australia.

 

Things to read today:

Wage inflation ain’t dead yet (Financial Times)

China Reopens to the World (WSJ)