Staff of Reuters 2 minutes Read (Click LIVE/ or type LIVE/ in a news window for a Reuters live blog on U.S., UK, and European financial markets.) * The FTSE 100 is down 0.5 percent, while the FTSE 250 is down 0.4 percent. 14 JULY (Reuters) – The FTSE 100 index in London dipped on Wednesday as a stronger pound impacted on export-oriented businesses, while inflation surpassed the central bank’s target for the second month in a row as Britain prepares to lift trade restrictions later this month. Travel stocks fell roughly 1.2 percent, while retailers Unilever, GlaxoSmithKline, and Diageo were among the main drags on the blue-chip FTSE 100 index. The domestic mid-cap index dropped by 0.4 percent. Inflation in the United Kingdom surged to 2.5 percent in June, up from 2.1 percent in May, owing to higher prices for food, petrol, used cars, apparel, and footwear, according to government figures. After the UK’s competition regulator approved AstraZeneca’s $39 billion takeover of US-based Alexion, the shares dropped 0.9 percent and was the biggest drag on the FTSE 100. Barratt Developments rose 0.3 percent after forecasting a profit for 2021 that was marginally better than market projections due to greater demand and the advantage of a tax holiday for consumers. (Shashank Nayar in Bengaluru contributed reporting; Subhranshu Sahu edited the piece.)/n
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