FTSE 100 Little Changed After Inflation Data
(RTTNews) - U.K. stocks were little changed on Wednesday after data showed U.K. consumer prices logged a steady growth rather than a slowdown in May.
Core inflation accelerated further, adding pressure on the Bank of England to raise the benchmark rate by half a percentage point.
Consumer price inflation came in unchanged at 8.7 percent in May while analysts had forecast the rate to ease to 8.4 percent.
Core inflation that excludes energy, food, alcohol and tobacco climbed to 7.1 percent, which was the highest since March 1992.
The benchmark FTSE 100 was marginally lower at 7,562 after falling around 0.3 percent the previous day.
GSK was marginally higher after it unveiled positive trial results for its Arexvy vaccine against respiratory syncytial virus in older adults.
Motor retailer Halfords jumped 5 percent after lifting dividend and unveiling growth plans for bikes and car parts sectors.
Tekmar Group, the provider of services for the offshore-energy markets, soared 11 percent after narrowing loss for the first half of fiscal 2023.
Housebuilder Berkeley Group Holdings fell 2.4 percent after reservations dropped 15 percent compared to a year ago period.
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