U.K. shares lower at close of trade; FTSE 100 down 0.20%
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The FTSE 100 on the London Stock Exchange jumped as much as 1.4% on Wednesday following higher-than-expected producer prices in the US. The producer price index (PPI) rose 0.3% in January, surpassing forecasts of a 0.1% increase, according to the Labor Department. On a year-on-year basis, the PPI climbed 0.9%, compared to expectations of a 0.6% rise. The stronger PPI led to a rise in the dollar, which gained 0.3% against the pound, benefiting exporters on the FTSE 100. The index had already been performing well as investors remained hopeful about potential interest rate cuts from the Bank of England after the UK entered a recession. US Treasury yields rose and the dollar edged up against the yen after US producer prices increased more than expected in January. The producer price index (PPI...
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