- FTSE 100 up 0.8%, FTSE 250 adds 0.6%
Feb 8 (Reuters) – UK’s blue-chip index hit a record high on Wednesday, following sharp gains on Wall Street a day earlier after U.S. Federal Reserve Chair Jerome Powell’s comments renewed hopes for less aggressive monetary policy.
Wall Street’s main indexes rallied on Tuesday after Powell said 2023 should be a year of “significant declines in inflation” even as he acknowledged that rates may need to move higher than expected if economic strength threatens the Fed’s progress in lowering inflation.
Emerging markets-focussed asset manager Ashmore Group (ASHM.L) edged up 0.4% after reporting a 54% drop in its half-yearly profit before tax.
Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D’Souza
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