Anglo American soars (Il Sole 24 Ore Radiocor) - London, 25 Apr - UK shares closed higher as corporate earnings and a rise in miners offset concerns over the latest US GDP and inflation data.

US gross domestic product grew by 1.6% in the first three months of the year, down from 3.4% in the previous quarter and well below expectations for growth of 2.5%. While consumer prices, excluding volatile energy and food, rose 3.7%, well above the previous quarter's growth rate of 2.0% and expectations for 3.4%.

The reading rekindled concerns over stubborn inflation and cast a cloud over whether the Federal Reserve will be able to cut its interest rates anytime soon.

All eyes now turn to tomorrow's PCE Price Index, the Fed's preferred gauge of inflation, to garner more insight into the scale of inflationary pressure.

Consumer goods giant Unilever soared 5.67% at 4,082.00 pence after it reported a larger-than-expected sales increase in the first quarter.

While Barclays gained 5.96% at 50.94 pence after net profits for the first quarter came in above expectations.

AstraZeneca rose 5.94% at 12,026.00 pence after the pharmaceutical giant reported a rise in revenues, led by its oncology unit.

Shares in Anglo American rallied 16.10% at 2,560.00 pence after the miner said it had received an 'unsolicited, non-binding and highly conditional combination proposal' for an all-share takeover by Australia's BHP Group.

The London FTSE 100 closed up 0.48% at 8,078.86 points.

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(RADIOCOR) 25-04-24 18:17:29 (0599) 5 NNNN