U.K. Stocks Are Little Changed After Slipping From One-Year Highby
British equities were little changed after halting an eight-day streak of gains.
The FTSE 100 Index of large companies added less than 0.1 percent at 8:41 a.m. in London after falling the most in two weeks on Tuesday. The FTSE 250 Index of mid-cap firms and the FTSE Small Capitalisation Index Ex Investment Trusts climbed 0.1 percent. The gauge of smaller companies hit a record on Monday.
A strengthening of the pound from a one-month low after data showed post-Brexit inflation accelerated hit U.K. shares on Tuesday. This year, the FTSE 100 has benefited from a weaker sterling, taking its annual gain to 10 percent and becoming among the best performers in developed markets. The currency slipped slightly on Wednesday.
Among stocks moving on corporate news, Admiral Group Plc tumbled 7.3 percent after the insurer reported a drop in solvency ratio. Standard Chartered Plc fell 1.9 percent after HSBC Holdings Plc reduced its rating on the stock to a hold. BT Group Plc climbed 1.5 percent after sliding for four straight days, while CRH Plc advanced for a 10th straight day, the longest streak since 2006, extending a record.
The regional Stoxx Europe 600 Index slipped less than 0.1 percent.