FTSE 100 Falls Amid European Inflation Concerns
The FTSE 100 index closed down 0.3% on Wednesday as European inflation concerns offset stronger-than-expected UK economic data.
European markets were dragged lower by September inflation readings, which showed Germany's inflation rate accelerating to 3.3%, and strengthened sharply elsewhere in the eurozone.
In contrast, US inflation rose 0.2% month-on-month but remained below market expectations, reducing pressure on the Federal Reserve to raise interest rates immediately.
The UK economy showed signs of growth, with second-quarter GDP revised up to 0.5% from 0.4%, and Sterling strengthened against the US dollar.
Among individual stocks, Antofagasta rose 3.2%, SSE gained 2.2%, and Reckitt Benckiser added 2.1%, but Tullow Oil plummeted around 47% after losing an arbitration case in Ghana.