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FTSE 100 drops on inflation data, interset rate bet

Xinhua, August 19, 2015 Adjust font size:

FTSE 100 Index, British benchmark stock market gauge, Tuesday declined by 0.37 percent, or 24.01 points, to 6526.29, as British CPI unexpectedly grew in July, raising the prospects that the central bank would raise interest rates early next year.

Britain's Consumer Prices Index (CPI) rose by 0.1 percent in the year to July 2015, compared with zero percent growth in the year to June 2015, announced the Office for National Statistics (ONS) Tuesday.

The latest inflation data is slightly higher than the market estimation consensus, which is a zero percent grow or flat in July.

The core annual inflation rate, which excludes alcohol, tobacco, food and energy prices, rose 1.2 percent on year-on-year basis, compared with a 0.8 percent growth a month earlier, data also showed.

Miner Antofagasta share price dropped by 2.09 percent topping the losers of the blue chips.

Share prices of Barratt Developments, BHP Billiton, Tesco and Anglo American declined by 1.91 percent, 1.85 percent, 1.78 percent and 1.76 percent respectively.

Commodities trader Glencore led the top gainers of the blue chips with a share price increase of 3.59 percent, followed by Shire Plc (1.65 percent), International Consolidated Airlines Group (1.29 percent), easyJet (1.16 percent) and Inmarsat (1.01 percent).

Trading volume in FTSE 100 companies was 35 percent smaller than its 30-day average. And the index has gained 2.43 percent so far this year. Endit