UK inflation slows lesser than expected to 3.2
ASOS rises on retaining FY outlook, naming new CFO
Entain climbs on betterthanexpected results
FTSE 100, FTSE 250 add 0.5 each

April 17 Reuters British stocks climbed on Wednesday, underpinned by industrial metal miners, while the pound strengthened after a slowerthanexpected pace of inflation fall pushed back hopes of a rapid rate cut by the Bank of England.

The resourcesheavy FTSE 100 and the midcap FTSE 250 gained 0.5 each after posting steep losses on Tuesday.

Industrial metal miners gained 2.7, with shares of Rio Tinto up 3, after iron ore futures climbed to their highest levels in more than five weeks.

Aerospace and defence sector was the top loser, dropping nearly 1, as geopolitical risks over the Middle East conflict persisted.

Britain39;s inflation slowed to 3.2 in March, compared with 3.4 a month ago, but was slightly higher than economists39; expectations of 3.1, according to a Reuters poll.

We are in that consolidation phase and in between narratives. The market is shifting from a soft landing to higher for longer it creating a little bit of noise, said Lilian Chovin, head of asset allocation at the British private bank Coutts.

Therefore, we are going to remain in this range until more data gets released and we have confirmation of a slowdown.

Traders now expect the Bank of England to cut rates by 38 basis points in 2024, with the possibility of a first rate cut only in November.

U.S. Federal…