Last week, UK investors closely monitored macroeconomic signals while looking ahead to the Bank of England's (“BoE”) forthcoming monetary policy meeting, where expectations remain firm that the base rate will be held at 3.75%. The pressure on central bank decision makers remains intense as the domestic inflation picture continues to present a challenge. Headline Consumer Price Index (“CPI”) inflation reached 2.9% in July, and market participants are awaiting Wednesday's August figures to gauge whether price pressures are broadening. However, domestic economic fundamentals provided a welcome boost at the end of the week, with UK gross domestic product (“GDP”) data outperforming forecasts and indicating resilience in business activity. This positive surprise buoyed overall market sentiment, further supported by perceived political stability under Prime Minister Andy Burnham, whose strong public approval ratings continue to reassure international investors...
Stocks featured:
Associated British Foods, BP and Sage Group
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