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  • 16 Oct 24

FTSE 100 lifted by easing inflation; Whitbread and Moonpig fly on buybacks - Market Report

FTSE 100 lifted by easing inflation; Whitbread and Moonpig fly on buybacks - Market Report


Whitbread PLC | WTB | 2,816 -13.0 (-0.1%)
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London's FTSE 100 rallied 54 points to 8,303 on Wednesday morning following news inflation in the UK had stooped to a three-year low.

ONS figures showed the consumer price index subsided to 1.7% last month, against 2.2% in August, driven by the likes of lower petrol prices and airfares.

Among companies, Whitbread climbed early on after the Premier Inn owner reported a 22% drop in interim profit but unveiled a new £100 million share buyback.

Moonpig also climbed on news of a £25 million share buyback, which marks the personalised greeting card retailer’s first ever.

And finally, Just Eat shares took a knock early on after the delivery firm posted a drop in sales over the third quarter on declining order numbers.

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