This puts pressure on the ECB to act to curb rising prices, fuelling rate hike fears among European investors. Meanwhile, miners outperformed on encouraging economic data from China and the FTSE 100 ended the session 0.5% higher.

This morning, the index opened 0.3% lower, with Flutter losing 4.9% after posting full-year core profit at the lower end of its guidance range.

At the same time, CRH jumped 9.4% and Melrose Industries gained 4.2% thanks to better-than-expected results.

 

Things to read today:

Xi Jinping set to overhaul China’s economic policy team at watershed congress (Financial Times)

Billionaire Deripaska Warns Russia May Run Out of Money in 2024 (Bloomberg)

Long-Robust U.S. Labor Market Shows Signs of Cooling (WSJ)