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FTSE 100 Rises As Inflation Stays Put


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(RTTNews.com) - U.K. shares were modestly higher on Wednesday and the pound extended losses after official data showed consumer price inflation unexpectedly held at an annual rate of 2.4 percent in May, its lowest level since March 2017.

Underlying sentiment was also boosted after Prime Minister Theresa May defeated a rebellion in parliament over her Brexit plans.

The benchmark FTSE 100 was up 16 points or 0.21 percent at 7,719 in late opening deals after declining 0.4 percent in the previous session.

Miners were broadly lower as base metal prices weakened. Anglo American shed half a percent, BHP Billiton dropped 0.3 percent and Rio Tinto eased 0.2 percent.

Glencore rallied 2.4 percent, a day after its unit Katanga Mining said it had agreed a recapitalization plan for 75-percent-owned Kamoto Copper Co with Gécamines.

Sky Plc lost over 1 percent after a judge has ruled that AT&T and Time Warner can merge.

Just Eat slumped 8.4 percent on worries about heightened competition after Deliveroo said it would allow partner restaurants to use their own riders.

Dixons Carphone tumbled 3.5 percent after the company said it has been the victim of an "unauthorized data access".


Read the original article on RTTNews (http://www.rttnews.com/2904544/ftse-100-rises-as-inflation-stays-put.aspx)

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This article appears in: Stocks , World Markets , Politics
Referenced Symbols: GLNCY ,


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