Global stocks hold gains after in-line US CPI

LONDON, Aug 12 : Global stocks held on to gains on Wednesday after U.S. inflation data came in as expected, while oil prices edged higher after a senior Iranian official told Reuters there were no discussions with Washington on extending a ceasefire.The Consumer Price Index edged up 0.1 per cent last month after dropping 0.4 per cent in June, in line with a Reuters poll of economists and analysts. Annual CPI inflation slowed to 3.4 per cent from 3.5 per cent a month earlier."Inflation is heading in the right direction for now, and given Federal Reserve Chair Kevin Warsh’s desire not to give much, if any, forward guidance, there should be a fairly sanguine market reaction to these latest figures," said Richard Carter, head of fixed interest research at Quilter Cheviot.Traders stuck to their