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20.08.202512:52:04UTC+00London Stocks Turn Green

The FTSE 100 index in London rose by 0.6% to approximately 9,245 on Wednesday afternoon, bouncing back from earlier declines and reaching a new intraday high of 9,251. The healthcare and consumer sectors were instrumental in offsetting the downward pressure from defense, energy, and mining stocks. In particular, Convatec, a manufacturer of medical equipment, saw its shares surge over 6% following the announcement of a $300 million share buyback plan. On the domestic front, UK inflation exceeded expectations, rising to 3.8% in July, the highest rate since early 2024. This marks an increase from 3.6% in June and surpasses forecasts of 3.7%. Meanwhile, market participants are focused on the upcoming Jackson Hole Symposium, where Federal Reserve Chair Jerome Powell is set to deliver a speech on Friday.

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