up 0.8% and 2.5% respectively on hopes that China's rapid reopening from COVID lockdowns will boost the global economy.
"Investors appear to have fallen back in love with UK assets," said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown. "Confidence has rebounded as investors eye China's reopening." Investors are awaiting UK November jobs data on Tuesday and consumer prices as well as retail sales data later this week for clues on the state of the economy as well as the Bank of England's rate-hike path.
"Inflation is moderating," said Andrea Cicione, head of strategy at TS Lombard. "It is becoming increasingly demand driven and becoming more pro-cyclical." Money markets are pricing in a 64.3% chance of a 50-basis point hike by the BoE in February to curtail inflation.
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