In the United States, yesterday's publication of PCE inflation in line with expectations - when the market had been fearing a nasty surprise on the upside - reset stress meters to zero. Comments from central bankers throughout the day did not provoke any further reaction. San Francisco Fed President Mary Daly explained that a rate cut was being considered, but that there was no urgency to do so. Atlanta Fed's Raphael Bostic spoke of summer as a likely target for the first rate cut.

Investors are now looking forward to the UK's PMI, Eurozone inflation and unemployment rates, and manufacturing PMI data from the US.

The UK housing market is showing signs of recovery, with the Nationwide house price index indicating a 0.7% increase in February, matching the rise in January. The average house price reached GBP 260,420, slightly up from January's figure. The annual house price index rose by 1.2% in February, surpassing market expectations.

ITV shares jumped by 15% after selling its 50% stake in BritBox International to BBC Studios for GBP 255 million. The company plans to return the net sale proceeds to shareholders through a share buyback.

UK property portal Rightmove forecasted 7%-9% revenue growth for 2024 after reporting a rise in 2023 profit.

Pearson advanced 5.4% after the education company unveiled an operating profit for 2023 that jumped 31% on an underlying basis.

Things to read today: