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UPDATE 2-UK shares dip as British inflation data fuels taper fears

Wed, 15th Sep 2021 09:11

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)

* Just Eat Takeaway drops after media report on Deliveroo,
Amazon

* UK CPI rises by 3.2%

* Darktrace ups 2022 growth forecast, shares rise

* FTSE 100 down 0.1%, FTSE 250 off 1.1%
(Updates to close)

By Devik Jain and Amal S

Sept 15 (Reuters) - UK shares ended lower on Wednesday,
weighed by industrial and consumer discretionary stocks, after
data showed British inflation accelerated to a 9-year high,
fuelling concerns of a sooner-than-expected stimulus tapering by
the Bank of England.

The blue-chip index slipped 0.1%, while the
domestically focused mid-cap FTSE 250 index declined
1.1%, recording its worst session in nearly two-months.

Losses in the blue-chip index, however, were limited by
decent gains by heavyweight oil majors BP, Royal Dutch
Shell and life insurers.

Consumer prices last month rose by 3.2% in annual terms, the
biggest monthly jump in at least 24 years, largely due to a
one-off boost reflecting the "Eat Out to Help Out" scheme that
pushed down restaurant meal prices last year.

The data came on the heels of a strong jobs report, with the
focus now shifting to BoE's policy meeting due next week as
policymakers remain split on whether basic conditions for a rate
hike are met by the economy.

"We're probably going to see a lot more inflation jitters
now for the next few months especially if central bankers are
going to persevere, or really talk persevering with removing
stimulus, because that's just going to add fuel to the inflation
fire," said Craig Erlam, senior market analyst at Oanda.

"If the economic recovery is slowing and COVID cases
reviving, maybe more restrictions going into the winter, and yet
central banks are raising interest rates that would suggest that
the previous statements on the transitory nature of inflation
are not necessarily the belief."

A Reuters poll forecasts the BoE will raise borrowing costs
by end-2022, earlier than previously thought, and there is a
chance it comes even sooner.

Food delivery company Just Eat Takeaway.com dropped
4.5% to the bottom of the index following a media report that
Amazon and rival Deliveroo will offer free
delivery to prime subscribers in Britain.

Among other stocks, Darktrace jumped 14.5% after
the cybersecurity company increased its revenue growth forecast
for its 2022 financial year.

Tullow Oil added 5.4% after the Africa-focused oil
and gas company swung to a profit in the first half.

(Reporting by Devik Jain and Amal S in Bengaluru; Editing by
Sherry Jacob-Phillips and Emelia Sithole-Matarise)

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3 May 2024 13:47

British regulator awards more North Sea oil and gas licences

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*

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2 May 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 shines but "mixed feelings" after Fed

(Alliance News) - London's FTSE 100 was solidly higher on Thursday, outperforming European peers, as earnings from the likes of Shell and Standard Chartered impressed.

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Sector movers: Oil, Autos drag on FTSE 350

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30 Apr 2024 14:38

UK earnings, trading statements calendar - next 7 days

Wednesday 1 May 
Anexo Group PLCFull Year Results
Cambridge Cognition Holdings PLCFull Year Results
Computacenter PLCTrading Statement
Georgia Capital PLCQ1 Results
GSK PLCQ1 Results
Haleon PLCTrading Statement
HSS Hire Group PLCFull Year Results
Intelligent Ultrasound Group PLCFull Year Results
Maintel Holdings PLCFull Year Results
Next PLCTrading Statement
Smith & Nephew PLCTrading Statement
Thursday 2 May 
Endeavour Mining PLCQ1 Results
First Tin PLCTrading Statement
Hiscox LtdTrading Statement
International Personal Finance PLCTrading Statement
Kerry Group PLCTrading Statement
Lancashire Holdings LtdTrading Statement
Melrose Industries PLCTrading Statement
NAHL Group PLCFull Year Results
Reach PLCTrading Statement
Shell PLCQ1 Results
Smiths News PLCHalf Year Results
Smurfit Kappa Group PLCTrading Statement
Spectris PLCTrading Statement
Standard Chartered PLCQ1 Results
TI Fluid Systems PLCQ1 Results
Friday 3 May 
InterContinental Hotels Group PLCTrading Statement
Mondi PLCTrading Statement
Trainline PLCFull Year Results
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Arecor Therapeutics PLCFull Year Results
BP PLCQ1 Results
Ebiquity PLCFull Year Results
IWG PLCTrading Statement
Kosmos Energy LtdQ1 Results
MaxCyte IncQ1 Results
Trident Royalties PLCTrading Statement
Vaalco Energy IncQ1 Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Apr 2024 14:21

Norway's wealth fund falls short on climate ambitions, NGO says

OSLO, April 29 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, is falling short on its climate ambitions by failing to back multiple shareholder proposals pushing oil companies to cut their greenhouse gas emissions, a non-governmental organization said in a report said on Monday.

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24 Apr 2024 19:30

Trans Mountain oil shippers raise concerns about risk of delay to full service

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24 Apr 2024 13:24

Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan

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24 Apr 2024 09:58

Aker BP Q1 beats forecast as costs fall, Tyrving to start sooner

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted higher-than-expected net profit for the first quarter as costs fell, and said its Tyrving field development could start production sooner than previously planned.

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24 Apr 2024 05:38

Aker BP Q1 beats forecast on record output, lower cost

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18 Apr 2024 14:45

BP's gas and renewables boss steps down, as CEO shrinks leadership

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Read more
18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
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Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
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LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

(Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks.

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IN BRIEF: BP trims executive team in operational restructuring

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