London stocks muted ahead of British inflation data

World
06-06-2023 | 03:54
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London stocks muted ahead of British inflation data
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London stocks muted ahead of British inflation data

UK shares were subdued in early trade on Tuesday dragged down by energy stocks, while investors awaited a crucial inflation data as they assessed the prospect of a global economic slowdown.

The resource-heavy FTSE 100 (.FTSE) slipped 0.1% as of 0715 GMT, with energy stocks (.FTNMX601010) shedding 0.6% tracking lower crude oil prices.

Domestically-focused FTSE 250 (.FTMC) midcap index was up 0.1%.

Markets are focused on the Purchasing Managers Index (PMI) for May, due at 0830 GMT, a day after British retail sales growth slowed to a seven-month low during the same month.
 
Automobile (.FTNMX401010) and personal goods stocks (.FTNMX402040) were the top gainers, while shares of beverages (.FTNMX451010) were the worst hit.

British American Tobacco (BATS.L) led gains on the FTSE 100, up 1.1%, after the company maintained its annual revenue and profit forecasts.
 
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