BUSINESS LIVE: US inflation higher than forecast; Tesco profits near £2.8bn; M&C Saatchi earnings slump

US Consumer Price Inflation was higher than expected in March, with both core and headline inflation up 0.4 per cent compared to market expectations of 0.3 per cent, according to US Labor Department data.

On an annualised basis, US CPI was up 3.5 per cent, versus forecasts of 3.4 per cent.

Treasury yields are trading higher as the data tempers Federal Reserve interest cut expectations.

The FTSE 100 closed up 26.42 points at 7961.21. Among the companies with reports and trading updates today are Tesco, THG, M&C Saatchi, Direct Line and Vistry. Read the Wednesday 10 April Business Live blog below.

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