© Reuters. FILE PHOTO: A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File Photo/
(Reuters) – British equities slipped in early trading on Friday following a dour GDP reading, though they were set for weekly gains, while investors braced for the latest U.S. inflation data due later in the day.
By 0806 GMT, the blue-chip fell 0.2% and midcap index edged down 0.1%.
Life insurers were amongst top decliners, falling 0.8%, while retailers lost 1.4%.
The FTSE 100 is eyeing a fourth straight weekly gain, while the FTSE 250 is set to rise for a third consecutive week as global markets rallied on the Federal Reserve’s dovish pivot, while a surprise drop in domestic inflation boosted UK equities.
Markets in the UK will end proceedings at 1230 GMT on account of a half-day Christmas holiday.
The November U.S. Personal Consumption Expenditure (PCE) index, the Fed’s preferred inflation gauge due later in the day, would be on investors’ radar.
Meanwhile, Britain’s economy might now be in a recession according to data which showed output shrank in the July-to-September period.
