The FTSE 100 and European markets were mixed on Wednesday, while US stocks moved higher in early trade. Markets are still looking to the Federal Reserve's annual meeting at Jackson Hole, which should give a better sense of the central bank's monetary policy.
The FTSE 100 (^FTSE) rose about 0.1% in early trade before ending the day 0.1% lower. Over in Germany the DAX (^GDAXI) and the CAC (^FCHI) were 0.4% higher.
The pan-European STOXX 600 (^STOXX) rose 0.2%.
Over in the US, the S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) rose about 0.3% while The Dow Jones Industrial Average (^DJI) was just above the flat line.
Stocks are eyeing a recovery from an early August sell-off as focus intensifies on the labour market as a factor in the Fed's policy making, given inflation seems to be subsiding.
This morning brought news that spending on public services and welfare have meant the UK's debt pile was larger than expected in July, pushing to £3.1bn. This will pose another headache for chancellor Rachel Reeves and stoke the row between Labour and the Conservatives over the health of the UK economy.
July borrowing was almost £2bn higher this year than in 2023, the ONS said.
"Today’s figures are yet more proof of the dire inheritance left to us by the previous government," said chief secretary to the Treasury Darren Jones. "A £22bn black hole in the public finances this year, a decade of economic stagnation, and public debt at its highest level since the 1960s, with taxpayers’ money being wasted on debt interest payments rather than on our public services."
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