FTSE 100 Drops on Monthly Basis Amid Inflation Worries
Londons FTSE 100 fell on Wednesday and posted a monthly loss as persistent inflation concerns and rising bond yields dampened investor sentiment. Oil prices rose above 103 dollars a barrel, reinforcing worries that interest rates could remain higher.
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The United Kingdom's blue-chip FTSE 100 fell 0.29% to close at 10,606 points on Wednesday afternoon, posting a monthly decline. The drop marked the index's largest monthly loss since March, driven by persistent inflation concerns. Despite the monthly retreat, the benchmark secured its seventh consecutive quarterly gain.
