FTSE 100 Modestly Lower After Inflation Data
(RTTNews) - U.K. stocks were slightly lower on Wednesday ahead of the Fed's interest-rate decision later in the day and the Bank of England policy meeting on Thursday.
The British pound traded weak after data showed U.K. consumer price inflation weakened in February to the lowest since 2021.
The consumer price index registered an annual growth of 3.4 percent, slower than the 4.0 percent rise in January.
The rate was the lowest since September 2021. Prices were expected to climb 3.5 percent.
On a monthly basis, consumer prices gained 0.6 percent, offsetting January's 0.6 percent fall.
The benchmark FTSE 100 was down 14 points, or 0.2 percent, at 7,724 after adding 0.2 percent the previous day.
In corporate news, insurance and asset management giant Prudential declined 2.3 percent despite reporting strong growth in new business over 2023.
Braemar rallied 3.7 percent as the shipbroker retained its 2024 profit and revenue guidance.
Johnson Matthey soared 7.5 percent. The company has agreed to sell its medical device components business to Montagu Private Equity for $700 mln in cash.
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