FTSE 100 Edges Lower On Inflation Concerns

RTTNews | 567 dagar sedan
Stocktwits
FTSE 100 Edges Lower On Inflation Concerns

(RTTNews) - U.K. stocks traded lower on Friday after Bank of England's chief economist Huw Pill told the Financial Times that it was too early to declare victory in the battle against high inflation.

GfK's consumer confidence index improved this month, helping limit overall losses to some extent.

The benchmark FTSE 100 was down 29 points, or 0.4 percent, at 7,454 after rising 0.2 percent on Thursday.

Miners fell, with Anglo American, Antofagasta and Glencore falling around 1 percent.

Barclays edged up slightly after reports that the lender is mulling cutting around 2,000 jobs as part of plans to cut costs by as much as £1 billion ($1.3 billion) over several years.

Telematics and data technology specialist Trakm8 Holdings tumbled 3.2 percent after declaring its half-year results.

Legal & General was down half a percent after it agreed a 4.8 billion pounds full buy-in with the Boots Pension Scheme.

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