FTSE 100 Cautious Ahead Of Inflation Update
(RTTNews) - FTSE 100 of the London Stock Exchange edged lower amidst anxiety ahead of release of inflation data for the month of June on Wednesday. Consumer Price Inflation in the U.K. is seen falling to 8.2 percent, from 8.7 percent in the previous month.
FTSE 100 oscillated between 7,425.96 and 7,398.53 versus the previous day's closing level of 7,406.42.
The benchmark index of the London Stock Exchange is currently trading at 7,404.13, down 0.03 percent on an overnight basis.
In the 100-scrip index, 39 are trading in the overnight red zone.
Ocado Group gained 15.9 percent after first-half results revealed a return to underlying profit. Persimmon rallied more than 5 percent followed by Taylor Wimpey that gained more than 4 percent. Barratt Developments added 3.8 percent.
BT Group, Vodafone Group, Antofagasta, Rio Tinto and Airtel Africa all shed more than 1 percent.
Expectations of rate action by the Bank of England and the continuing dovish narrative attributed to the Fed benefitted the sterling as it hovered close to a 15-month high. While the Dollar's weakness dragged the Dollar Index 0.09 percent to 99.75, the GBP/USD pair rose 0.08 percent to 1.3081.
U.K. ten-year bond yields eased much less than its European counterparts. It has fallen 0.82 percent, to 4.3945%.
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