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In mid-morning trade, the FTSE 100 is little changed as UK inflation comes in higher than expected.
UK inflation data came in at a higher-than-expected 4.4% today, helping to lift the pound and knock the FTSE back after a brief foray above 5800. Among the blue-chips, there are no big movers in either direction as any changes are being driven by various upgrades and downgrades. It’s looking like investors are showing signs that shares have got a little over extended in recent days, so it would not be a shock to see some easing back from current levels. Trading floor sentiment still remains cautious as the Libyan military campaign and intermittent interruptions to the work on the Japanese nuclear reactors continue to unsettle the markets.
Looking ahead to the US open, at the moment we are expecting the Dow Jones to open up around 10 points. With nothing of note on the economic calendar for the rest of today, traders are likely to continue to take their cues from ongoing events on the world stage.
