The FTSE-100 benchmark of the London Stock Exchange operated within a tight band of around 25 points, as a flare-up in inflation to 9 percent, the highest level since 1982 fueled fears of a ferocious inflation combat. The harsh comments from the Fed on Tuesday also unnerved investor sentiment. Strong earnings updates from British Land Company, Aviva, and Burberry Group limited losses.
FTSE 100 oscillated between 7,494.68 and 7,528.39, versus the previous close of 7,518.35.
The benchmark index of the London Stock Exchange is currently trading at 7,500.15, down 0.24 percent on an overnight basis.
In the 100-scrip index, only 40 scrips have advanced from Tuesday’s levels.
Rolls Royce Holdings surged more than 5 percent on an overnight basis.
Real Estate Investment Trust British Land Company is trading 3.5 percent higher.
Sports betting company Entain is trading with gains of more than 3 percent.
Real estate business Land Securities Group and insurance business Aviva are both trading more than 2 percent higher.
Online food delivery business Just Eat Takeaway and online grocery retailer Ocado have both shed more than 5 percent.
Tech business Experian is trading more than 4.5 percent lower.
Coca Cola HBC and paper products business Mondi, are both trading more than 2 percent lower.
Lloyds Banking group is the most active scrip with a turnover of 32 million. The scrip has gained 0.71 percent.
The GBPUSD pair dropped 0.67 percent to 1.2407 amidst the Dollar Index gaining 0.22 percent to 103.59 from the previous close of 103.34.
Yields on U.K.’s ten-year bonds increased to 1.8845 percent from Tuesday’s close of 1.8820.
Business News
FTSE-100 Falls As Forty-year High Inflation Foretells A Fierce Fight Ahead
2022-05-18 11:39:01
