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FTSE 100 Rises Ahead Of US CPI Data

U.K. shares were trading notably higher on Wednesday after Sky Plc and BT Group said they had agreed to pay £4.464bn to secure the broadcast rights for the bulk of Premier League football games from the 2019/20 season.

Sky shares jumped over 3 percent while those of BT Group rose more than 1 percent.

The benchmark FTSE 100 was up 45 points or 0.64 percent at 7,213 in late opening deals ahead of the U.S inflation report due later in the day, which may provide further cues on interest-rate changes in the world's largest economy.

A spike in inflation on the back of a tightening labor market and increased government spending may push Treasury yields higher once again and send equities spiraling lower.

Engineering giant GKN edged up half a percent after it pledged to return 2.5 billion pounds to investors by selling off parts of its business.

Galliford Try plunged as much as 18 percent on equity dilution worries after the construction group and housebuilder announced a £150m capital raising to help cover the impact of Carillion's liquidation.

Serco Group jumped 2 percent. The company has signed a revised £30m deal to buy various U.K. health facilities management contracts from bust services group Carillion.

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