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FTSE 100 Recoups Earlier Losses

U.K. stocks recouped initial losses to turn flat on Wednesday after a government report showed U.K. consumer price inflation remained stable in June.

Consumer prices increased 2 percent year-on-year in June, the same pace of growth as seen in May and in line with expectations.

The benchmark FTSE 100 was down 6 points at 7,570 after hitting as low as 7,555 earlier in the day.

Energy giant BP Plc and Tullow Oil fell around 2 percent after oil prices fell sharply overnight on data showing a smaller-than-expected decline in inventories.

Premier Oil lost about 1 percent despite cutting its forecast for 2019 operating costs.

Vectura Group gained 1 percent after it made a positive start to trading during first half 2019.

Mining firm Fresnillo fell more than 1 percent after cutting its 2019 output targets.

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