(RTTNews) - U.K. stocks were moving lower on Tuesday amid worries about rising inflation and its impact on economic growth.
U.K. economic activity slowed slightly in August as manufacturers were pummeled by weaker demand, but the services sector held up better than expected, survey data showed earlier today.
The S&P Global/CIPS Purchasing Managers' Index (PMI) composite flash estimate dropped to an 18-monht low of 50.9 in August from 52.1 in July.
The benchmark FTSE 100 was down 30 points, or 0.4 percent, at 7,503 after closing 0.2 percent lower on Monday.
BT group shares rose about 2 percent after the government allowed French billionaire Patrick Drahi to retain his stake in the telecoms group.
John Wood Group tumbled 3.3 percent. After reporting a wider pretax loss for the first half of 2022, the engineering services firm said it expects performance to improve in the second half.
