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FTSE 100 Lackluster After Inflation Data

U.K. shares were subdued on Tuesday after data showed U.K. consumer price inflation held steady at 3.0 percent in January year-over-year, missing expectations of 2.9 percent.

Investors now look forward to U.S. inflation data due on Wednesday, a report that may offer further clues on the pace of interest rate hikes in the U.S.

The benchmark FTSE 100 was down 8 points or 0.11 percent at 7,168 in late opening deals after rising about 1.2 percent on Monday.

Travel and tourism company TUI jumped 5 percent after an upbeat quarterly trading update.

Mining giant Rio Tinto added 0.6 percent. The company said it would invest about C$250 million (S$263.1 million) to expand an alumina refinery in Canada.

Rival BHP Billiton gained 0.4 percent. The company said that it expects to recognize an income tax expense of $1.8 billion as a result of the U.S. Tax Cuts and Jobs Act.

by RTTNews Staff Writer

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