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08:28, May 14, 2008 |
A sharp jump in inflation pushed British shares lower on Tuesday as prospects of an early cut in interest rates faded.
The benchmark FTSE 100 index closed 8.7 points lower, or 0.14 percent, at 6,211.9 after figures showed CPI inflation hit 3 percent in April.
Banking shares fell, led by Alliance & Leicester which dropped 10.1 percent after its said it had written down 192 million pounds of assets because of the credit crunch.
Source: Xinhua
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