FX.co ★ FTSE 100 Holds Steady As Economy Rebounds In January

UK stocks maintained their consistency on Wednesday, following news of a slight growth in the UK economy in January. This modest growth came after a period of technical recession in the second part of the previous year.

In fact, the nation's GDP showed a 0.2 percent expansion in January, which is a stark reversal from the 0.1 percent reduction seen in December. This increase can be attributed to an improvement in the sectors of services and construction.

This rate of growth met the expectations of financial analysts. However, on a year-to-year basis, the nation's GDP experienced a 0.3 percent decline in January, which was in alignment with financial predictions.

In a separate piece of data, it was revealed that the UK's visible trade deficit had widened, reaching £14.5 billion in January, rising from £13.99 billion in December.

The FTSE 100, the benchmark for UK stocks, was minutely heightened at 7,753, following a 1 percent escalation on Tuesday.

In business news, Advanced Medical Solutions saw a 3 percent increase following their agreement to acquire Peters Surgical; a global provider of special surgical devices, mechanical haemostasis, and internal cyanoacrylate tools.

Furthermore, the Allianz Technology Trust saw a roughly 1 percent increase in value, following their announcement of positive financial results for the fiscal year of 2023.

In contrast, Hochschild Mining experienced nearly a 4 percent decrease in value after slipping into losses in FY23. Meanwhile, Balfour Beatty surged 8 percent due to news of a potential share buyback.