FTSE Indices Mixed Amid Inflation Concerns and Sage's Profit Boost

The UK's FTSE indexes showed muted performance as unexpected inflation data influenced interest rate expectations despite strong profits from Sage Group. While the FTSE 100 saw a slight rise, the FTSE 250 declined. Investors also focused on Nvidia's report and the Bank of England's rate strategy.

UK's FTSE indexes experienced subdued activity on Wednesday, affected by inflation data that exceeded expectations and dampened hopes for swift interest rate cuts. Despite this, there was optimism due to software company Sage's impressive quarterly profit performance.

The FTSE 100, primarily export-focused, nudged up by 0.07%, with the technology sector exhibiting a significant surge of 6.9%, reaching a record high. Sage Group's operating profit increased by 21%, thanks to a 220 basis points margin rise, leading to a 19% increase in its shares, marking a new high.

Meanwhile, global investors were keenly awaiting U.S.-based Nvidia's quarterly report. However, the FTSE 250, more attuned to domestic issues, fell 0.2% as inflation data revealed a rise beyond expectations in October, pushed by regulated domestic energy tariff hikes.

(With inputs from agencies.)