U.K. stocks advanced on Wednesday in anticipation of crucial U.S. inflation data and the Federal Reserve's impending interest-rate decision.
Simultaneously, the U.K. economy recorded no growth in April, as an increase in services output was counterbalanced by declines in both production and construction, according to data released by the Office for National Statistics (ONS) earlier today.
Gross domestic product (GDP) remained unchanged from the previous month, as expected, following a 0.4 percent rise in March. Over the three months leading to April, real GDP showed a 0.7 percent increase compared to the prior three-month period.
Additional data from the ONS indicated that the visible trade deficit widened to GBP 19.6 billion in April, up from GBP 13.9 billion in March. The forecasted deficit was -GBP 14.2 billion.
The benchmark FTSE 100 index rose by 56 points, or 0.7 percent, to 8,203, rebounding from a 1 percent decline on Tuesday.
In corporate developments, Rentokil shares surged nearly 12 percent following the acquisition of a significant stake in the pest-control company by activist investor Trian Fund Management.
Conversely, Legal & General saw a 3.1 percent drop in its share price as the new chief executive outlined plans to reorganize the company into three primary divisions.
Landore Resources experienced a remarkable 51 percent increase after successfully raising £3.683 million through a new share subscription.
