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London midday: Stocks in the red as inflation concerns weigh
Wed, 9th Jun 2021 10:54
(Sharecast News) - London stocks had fallen further into the red by midday on Wednesday amid concerns about rising inflation after the latest set of figures from China and ahead of US data later in the week.
The FTSE 100 was down 0.6% at 7,054.79.
Oanda market analyst Sophie Griffiths said: Few investors are willing to take on big positions ahead of tomorrow s double risk whammy - the European Central Bank rate decision and US CPI inflation data. There are plenty of signs to suggest that inflationary pressures are building. Friday s NFP revealed a weaker than expected headline number, but average wages rose by more than forecast.