Rollercoaster day for the FTSE 100

Rollercoaster day for the FTSE 100

The FTSE 100 was flat at 7,300.62 supported by miners having dropped to 7,285 during mid-morning trading after an unexpected rise in inflation to a six-month high. The index began the day up 0.3pc.

Anglo American and Evraz were amongst the top performers in the mining sector, up 2.50pc and 3.26pc respectively, supporting the wider FTSE 100 index.

Brent crude was steady at $79.09 as an increase in US inventories is outweighed by growing concerns that producers may not increase output enough to cover the shortfall resulting from US sanctions on Iran.

Sterling jumped above $1.32 against the dollar to its highest level in nine weeks as a result of an unexpected hike in UK inflation.

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