FTSE 100 Climbs Amid Inflation Data and Geopolitical Concerns

Britain's leading index, the FTSE 100, closed higher on Wednesday, bolstered by gains in defensive sectors such as healthcare and consumer goods amid growing geopolitical tensions. The uptick came after stronger-than-expected UK's inflation data reduced the likelihood of imminent rate cuts from the Bank of England (BoE).

Rising 0.3%, the FTSE 100 recovered from earlier losses, despite global investor concerns triggered by U.S. presidential candidate Donald Trump's comments questioning the U.S. support for Taiwan, and reports of Washington considering stricter controls on advanced semiconductor exports to China.

Globally, technology stocks slumped, while defensive stocks appealing to investors during economic uncertainty saw gains. UK consumer price data showed inflation steady at 2%, defying forecasts of a slight fall, and casting doubts on the BoE's monetary policy easing. Eyes are now on Thursday's payroll and retail data, which may influence BoE's next steps.

(With inputs from agencies.)