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FTSE 100 Little Changed In Choppy Trade

U.K. stocks were little changed in choppy trading on Wednesday as traders reacted to Janet Yellen's comments at her Senate confirmation hearing for U.S. Treasury secretary and awaited the inauguration of new U.S. president Joe Biden.

Yellen advocated hefty fiscal spending, arguing that the benefits outweighed the implications of a higher debt burden.

The benchmark FTSE 100 was little changed at 6,712 after ending down 0.1 percent on Tuesday.

Mining giant BHP advanced 0.7 percent after lifting its iron ore production forecast.

Hochschild Mining surged 6 percent. The company reported that its overall 2020 attributable production was 289,293 gold equivalent ounces or 24.9 million silver equivalent ounces, at the high end of the company's revised forecasts.

IWG, an operator of workspace brands, fell 2.2 percent. The company said its Group revenue for the year 2020 is anticipated to be approximately 2.45 billion pounds.

Iberia parent IAG advanced 1.5 percent after it struck an amended agreement with Globalia to acquire Air Europa for €500 million ($606 million).

In economic releases, U.K. consumer price inflation accelerated more than expected in December, data released by the Office for National Statistics showed.

Inflation doubled to 0.6 percent from 0.3 percent in November. The rate was above economists' forecast of 0.5 percent.

Month-on-month, consumer prices advanced 0.3 percent, reversing a 0.1 percent drop in November. Prices were forecast to rise 0.2 percent.

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