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FTSE 100 down 0.22%, FTSE 250 down 0.25%
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British medical equipment shares slide on US tariffs fears
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Petershill Partners ( PHLLF ) hits four-year high amid delisting
plan
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Mitchells & Butler dives on weak Q4 sales growth
Sept 25 (Reuters) - London stocks edged lower on
Thursday as investors turned cautious over inflation risks and
Bank of England's interest rate outlook, while weakness in
medical equipment shares added to the drag.
The benchmark FTSE 100 fell 0.22% at 0909 GMT, while
the domestically focused FTSE 250 was down 0.25%.
BoE policymaker Megan Greene said on Wednesday that the
risks of inflation in Britain will prove stronger than the
central bank's forecast, meriting a cautious approach to further
interest rate cuts.
At its meeting this month, the BoE suggested it could slow
the pace of its rate reductions due to persistent inflation
pressures in Britain.
The country has the highest inflation rate among Group of
Seven economies, at 3.8% in August, and the BoE thinks it will
peak at 4% in September before falling back to the central
bank's 2% target in the spring of 2027.
In the market, medical equipment and services stocks
fell 2.2% after the U.S. Commerce Department said
it has opened new national security investigations into the
import of personal protective equipment, medical items,
robotics, and industrial machinery.
British medical equipment maker Convatec Group ( CNVVF ) was
the biggest decliner on the FTSE 100, falling 6.1%.
Construction and materials was also among the
top declining sub-sectors, down 1.3%, tracking losses in
European peers.
Mitchells & Butlers ( MBPFF ) fell 6.6% after the British pub
and restaurant operator reported a weak sales growth compared to
previous quarter.
Petershill Partners ( PHLLF ) jumped 33.1% after the
investment group, majority owned by Goldman Sachs, became the
latest UK-listed firm to announce plans to delist from the
London Stock Exchange, citing dissatisfaction with its share
price and valuation.
An index of industrial metal miners continued
gains from the previous session, up 1.8%, as copper struck a
fresh 15-month high on Thursday.
Rio Tinto and Anglo American were among the
top gainers in the FTSE 100, up 2.8% and 1.8%, respectively.
Across the Atlantic, at least seven Federal Reserve
officials are due to speak later on Thursday. Traders hope they
will offer greater clarity on how far and fast U.S. interest
rates will drop.