FTSE 100 Slides On Inflation Retreat

U.K. stocks edged lower on Wednesday after data showed British inflation fell to the Bank of England’s 2 percent target last month.

The pound hovered near a 3-1/2-week low as consumer price inflation eased from a 2.5 percent increase in June to the 2 percent goal for the first time since April.

The benchmark FTSE 100 dropped 20 points, or 0.3 percent, to 7,161 after closing 0.4 percent higher in the previous session.

Miners Anglo American, Antofagasta and Glencore all fell about 1 percent.

Industrial group Rotork rose over 1 percent after launching a £50mln share buy-back program.

Sirius Real Estate advanced 0.8 percent. The company said it has completed the acquisition of four business park assets and one land parcel for about 84.8 million euros.

Construction company Balfour Beatty plunged 6.3 percent despite swinging to a half-year profit.