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Market Update: UK Stocks Remain Near Flat Line After PMI Data
The FTSE 100 traded near the flat line at 7,090 on Wednesday, as inflation worries continued to weigh on sentiment while investors digested the June flash PMI survey, which signaled a further strong growth in output across the UK private sector. The report also showed employment growth hit an all-time high amid sharply rising workloads, but inflationary pressures continued to build. Elsewhere, investors hope that the UK and the EU will strike a truce in the dispute over the Northern Ireland protocol and avert a post-Brexit trade war as EU officials meet today. On Tuesday, US Federal Reserve Chair Jerome Powell reassured markets that inflation fears alone will not be enough to drive interest rate hikes. [/s2If]
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