UK shares dip as rate hike jitters overshadow cheer over fall in inflation

Published by
Reuters UK

(Reuters) – UK shares fell on Wednesday, after data showing a surprise fall in British consumer prices in August did little to ease bets of the Bank of England hiking interest rates by 75 basis points at its meeting next week. A selloff in Wall Street overnight after a rise in U.S. inflation figures prompted bets for aggressive policy tightening in the world’s largest economy also weighed on the London market. The commodity-heavy FTSE 100 slid 0.7%, while the domestically focussed mid-cap index declined 0.3% at 07:13 GMT. Oil and mining stocks shed 1.7% and 1.0%, respectively, on fears of aggr…

Read More