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Inflation Drags Down FTSE-100
(RTTNews) - The FTSE-100 benchmark of the London Stock Exchange is currently trading lower amidst data that showed a spike in inflation. U.K.'s annual inflation rate rose to 10.1 percent in September, from 9.9 percent in August. The reading now corresponds to the 40-year high touched in July and exceeds market expectations of a 10 percent reading. The high inflation rattled market sentiment which was on ahigh following the reversal of the fiscal measures.
FTSE 100 oscillated between 6,968.33 and 6,890.66, versus the previous close of 6,936.74. The benchmark index of the London Stock Exchange is currently trading at 6,924.82, down 0.17 percent on an overnight basis.
In the 100-scrip index, only 25 are trading above the levels on Tuesday.
International Consolidated Airlines Group gained 2.50 percent. HSBC Holdings strengthened 1.6 percent whereas BP added 1.4 percent.
Dechra Pharmaceuticals, Lloyds Banking Group, Kingfisher and Persimmon declined more than 4 percent.
Lloyds Banking group is the most active scrip with a turnover of 126 million.
The GBP/USD pair dropped 0.71 percent to trade at 1.1238 amidst the US Dollar Index strengthening 0.69 percent to 112.90.
Yields on U.K.'s ten-year bonds increased to 2.6 percent from Tuesday's close of 3.9440.
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