FTSE 100 watch: Footsie rises ahead of US inflation data

Coca-Cola HBC share price rises as group updates on performance

FTSE 100 watch: Footsie rises ahead of US inflation data

The UK benchmark index has advance in today’s session, ahead of highly-anticipated inflation data in the US later today. Coca-Cola HBC (LON:CCH) meanwhile is outperforming the broader market after updating investors on its full-year performance.

FTSE 100 gains ground

As of 12:14 GMT, the FTSE 100 had added 54.87 points to stand 0.77 percent higher at 7,222.88. Sentiment has been upbeat today following a positive handover from the US, and ahead of inflation data due out later in the day.

“It’s really fairly evenly balanced where markets go from here. You could see both a bull and bear case,” Laith Khalaf, senior analyst at Hargreaves Lansdown, said, as quoted by Reuters, adding that valuations were high and the recent sell-off could be seen as the start of a trend toward a fuller correction.

Individual movers

Investors have also been digesting company releases, including Coca-Cola HBC’s results, with the blue-chip bottler revealing that its forex-neutral revenue per case had improved in all segments in the year ended December 31, up 3.6 percent overall. Comparable earnings before interest and taxes meanwhile rose 20 percent, and the company hiked its payout to shareholders by 23 percent. Coca-Cola HCB’s share price is currently 4.83 percent up at 2,344.00p.

BT Group (LON:BT.A) and Sky (LON:SKY) have also been among today’s biggest risers, after it emerged that they will pay less for Premier League matches, having snapped up the rights to the majority of live games for £4.46 billion. BT’s stock has gained 2.12 percent to 230.64p, while shares in Sky are changing hands 2.93 percent higher at 1,092.05p.

The FTSE 100 was 0.75 percent up at 7,221.89 points as of 12:33 GMT on Wednesday, 14 February 2018.

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