UK's FTSE flat after inflation data; Deliveroo up on forecast raise

The domestically focussed mid-cap index was also flat, with travel stocks weighing on the index. Deliveroo rose 2.3% after it raised its full-year growth forecast and reported a jump in gross value of its orders in the third quarter.

London's FTSE 100 was little changed on Wednesday as fears that the Bank of England would raise interest rates as early as next month persisted despite an unexpected slowdown in inflation, while food delivery company Deliveroo jumped after raising its forecast. The blue-chip FTSE 100 index was flat at 0714 GMT, with miners Rio Tinto, Glencore, and Anglo American among the worst performers on lower metal prices.

Inflation rose 3.1% in annual terms in September, slowing unexpectedly from 3.2% in August. The decline probably was a temporary respite for consumers and the BoE is still expected to address the rise in consumer prices by raising rates as early as November. The domestically focussed mid-cap index was also flat, with travel stocks weighing on the index.

Deliveroo rose 2.3% after it raised its full-year growth forecast and reported a jump in gross value of its orders in the third quarter.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)