17.12.202517:18:46UTC+00UK Stocks Close at Over 1-Month High

London's FTSE 100 witnessed a significant uptick, closing 0.9% higher at 9,774 on Wednesday, reaching its highest point in over a month. This surge came in the wake of inflation data that fell short of expectations, fueling anticipations of a rate cut and contributing to a weaker pound. The Bank of England's policymakers will reveal their final decision of the year on Thursday, with markets anticipating a 25 basis point rate cut. November saw UK inflation decline more than anticipated, hitting an eight-month low. Among the top performers, Barratt Developments surged 3.7%, driven by speculation of the expected rate cut. Meanwhile, Phoenix Group experienced a 3.3% increase following an upgrade to ‘buy’ from UBS, and HSBC advanced 2.7% after receiving an ‘outperform’ upgrade from KBW. Additionally, miners, utilities, banks, and oil firms all reported solid gains. Conversely, DCC saw a 3.6% decline, while Bunzl dropped 2%, affected by its forecast of a slight year-on-year drop in its 2026 operating margin.