07:19 , Graeme Evans The FTSE 100 index is set to consolidate recent gains after April’s in-line US inflation reading of 3.4% triggered a relief rally for Wall Street stocks. All three major benchmarks hit record levels as the easing of price pressures and lacklustre retail sales figures boosted September interest rate cut hopes. Nvidia rose 3.5% and Microsoft by 2% while the S&P 500 lifted by 1.2% and the Nasdaq 1.4%. The Dow Jones Industrial Average closed 0.9% higher Risk appetite remained strong during Asia trading hours, despite figures showing Japan’s economy shrank by 0.5% in the first quarter of 2024. Hong Kong’s Hang Seng index returned from a day’s holiday 1.7% higher, while the Nikkei 225 rose 1.2%. The FTSE 100 index posted a record close of 8445 points last night and is forecast to start today’s session slightly higher at about 8450. The pound is at $1.267, having surged to its highest level in five weeks due to renewed expectations that the US might cut interest rates twice in 2024. 06:43 , Simon Hunt Good morning from the Standard City desk. It has taken until the 105th day of the year but it will still be “nice...