Did UK inflation jump push British equities lower? | UK Market Update

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Did UK inflation jump push British equities lower? | UK Market Update

The London markets traded in the red zone due to more than expected rise in UK inflation data. FTSE 100 traded lower by around 0.30% as inflation picked up during January 2021.

Mining Group Rio Tinto shares went up by around 1.79% after it had reported approximately 20% growth in its underlying profit, driven by an increase in commodity prices. The Company would pay USD 6.50 billion of dividend, its highest in 148-year history.

British fund supermarket Hargreaves Lansdown shares went down by approximately 6.32% after Peter Hargreaves sold around USD 416 million worth of shares. Cigarette firm British American Tobacco had reported an increase in full-year profits. However, the figure remained below analysts’ expectations. Shares of BATS plunged by around 3.71%.

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