The FTSE 100 strutted its stuff with a 0.6% rise this morning, thanks to a little help from the mining and oil sectors. This uptick comes despite the usual suspects: US interest rate jitters and lackluster economic data from China. Yesterday, the index managed a modest 0.1% gain.

Meanwhile, the British pound is struggling, as UK government borrowing costs climb. The 10-year gilt yield has reached heights not seen since 2008.

Adding to the market's woes are US tariff threats and the Federal Reserve's murky interest rate path. Investors are scratching their heads over the future of interest rates, thanks to inflation worries and potential trade policy shifts. The latest Federal Open Market Committee meeting minutes revealed heightened inflation risks. US markets delivered a mixed bag on Wednesday: the Dow Jones edged up 0.3%, the S&P 500 rose 0.2%, while the Nasdaq slipped by 0.1%.

In China, consumer price inflation cooled to a mere 0.1% in December, sparking concerns about the country's economic momentum. The Shanghai Composite and Hang Seng Index both saw slight declines. 

On the corporate front, Tesco and Marks & Spencer had a jolly Christmas, with Tesco's like-for-like sales climbing 3.8% and M&S enjoying a 5.6% boost in total sales, thanks to its Food division. B&M European Value Retail reported a 2.6% increase in third-quarter revenue and announced a special dividend, while narrowing its profit guidance. Greggs saw an 11% rise in annual sales, despite quieter high streets as the year closed. Meanwhile, Avon Technologies renewed a lucrative contract with Thales for a UK defense program.