London’s FTSE 100 fell as mixed inflation data left analysts expecting the Bank of England to hold interest rates steady at tomorrow’s meeting.
In opening trade, the FTSE fell about a fifth of a percent to 8,172.
While the consumer price index retreated to 2% in May from 2.3% in April, core inflation registered at 3.5% and services inflation came in at 5.7% for the month.
In company news, one of the morning’s big fallers is AstraZeneca, which declined 1.8%. Yesterday it revealed that a breast cancer drug combination failed in late-stage trials.
Berkeley Group Holdings retreated by 1% even though its final results showed higher profits than expected.
Meanwhile, Vodafone Group added 1% after it sold down its stake in Indian mobile towers group Indus Towers. Vodafone, which retains a 3.1% stake in Indus, says it will use the cash to repay outstanding debt secured against its Indian assets.
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