UK stocks remained fairly consistent on Tuesday in response to the latest figures revealing a significant dip in the country's shop price inflation, reaching a nearly two-year low in February.
The British Retail Consortium disclosed that the shop price index saw a yearly rise of 2.5% in February. This figure is markedly slower than January's 2.9% increase, representing the lowest rate since March 2022 and falling below the three-month average of 3.3%.
On the same day, the benchmark FTSE 100 revealed a slight upward trend at 7,686, showing an improvement after the 0.3% decrease in the previous session.
In terms of specific sectors, the mining industry experienced a positive shift due to a weakening dollar, with Anglo American seeing a 2.7% surge.
Meanwhile, asset management firm Abrdn has seen a nearly 5% increase after managing to narrow its full-year losses, also revealing plans to ax about 500 positions as part of a cost-cutting initiative.
Finally, medical device behemoth Smith & Nephew reported a 2.5% uptick after announcing improved financial results for the fourth quarter and the entirety of 2023.
