London stocks rise on softer-than-expected inflation data

The UK's benchmark indexes rose on Wednesday, on track for a three-day win streak as cooler-than-expected October inflation data lifted sentiment, while a rise in prices of most commodities pushed mining and energy stocks higher. The commodity-focused FTSE 100 was up 0.9 per cent at 8:04 GMT and the mid-cap FTSE 250 gained 0.4 per cent.

British inflation cooled by more than expected in October as household energy prices dropped from a year earlier, while stubbornly high services sector price growth also eased, offering some relief to the Bank of England.

The upbeat sentiment spurred a rise in rate-sensitive stocks, with top gainer homebuilders index adding 2 per cent and the banks sector gaining 1.3 per cent.

Precious metal miners added 1.4 per cent, while industrial metal miners were up 1.7 per cent, as prices of most metals rose on a softer dollar and retreating bond yields.

Shares of Experian rose 3.3 per cent after the world's largest credit data company reported an increase in half-yearly profit, benefitting from sustained demand in key markets North America and Europe.

British power generator and network operator SSE Plc reported half-yearly earnings above its forecast, taking the shares up by 2.2 per cent.