UPDATE 2-UK shares dip as British inflation data fuels taper fears

Reuters

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markets, click LIVE/ or type LIVE/ in a news window)
    * Just Eat Takeaway drops after media report on Deliveroo,
Amazon 
    * UK CPI rises by 3.2% 
    * Darktrace ups 2022 growth forecast, shares rise
    * FTSE 100 down 0.1%, FTSE 250 off 1.1%

 (Updates to close)
    By Devik Jain and Amal S
    Sept 15 (Reuters) - UK shares ended lower on Wednesday,
weighed by industrial and consumer discretionary stocks, after
data showed British inflation accelerated to a 9-year high,
fuelling concerns of a sooner-than-expected stimulus tapering by
the Bank of England.
    The blue-chip index  .FTSE  slipped 0.1%, while the
domestically focused mid-cap FTSE 250 index  .FTMC  declined
1.1%, recording its worst session in nearly two-months.
    Losses in the blue-chip index, however, were limited by
decent gains by heavyweight oil majors BP  BP.L , Royal Dutch
Shell  RDSa.L  and life insurers  .FTNMX303010 .
    Consumer prices last month rose by 3.2% in annual terms, the
biggest monthly jump in at least 24 years, largely due to a
one-off boost reflecting the "Eat Out to Help Out" scheme that
pushed down restaurant meal prices last year.  urn:newsml:reuters.com:*:nL8N2QH181
    The data came on the heels of a strong jobs report, with the
focus now shifting to BoE's policy meeting due next week as
policymakers remain split on whether basic conditions for a rate
hike are met by the economy.  urn:newsml:reuters.com:*:nL8N2QA4LF 
    "We're probably going to see a lot more inflation jitters
now for the next few months especially if central bankers are
going to persevere, or really talk persevering with removing
stimulus, because that's just going to add fuel to the inflation
fire," said Craig Erlam, senior market analyst at Oanda. 
    "If the economic recovery is slowing and COVID cases
reviving, maybe more restrictions going into the winter, and yet
central banks are raising interest rates that would suggest that
the previous statements on the transitory nature of inflation
are not necessarily the belief." 
    A Reuters poll forecasts the BoE will raise borrowing costs
by end-2022, earlier than previously thought, and there is a
chance it comes even sooner.  urn:newsml:reuters.com:*:nL8N2QB1N2
    Food delivery company Just Eat Takeaway.com  JETJ.L  dropped
4.5% to the bottom of the index following a media report that
Amazon  AMZN.O  and rival Deliveroo  ROO.L  will offer free
delivery to prime subscribers in Britain.  urn:newsml:reuters.com:*:nL8N2P53Y0
    Among other stocks, Darktrace  DARK.L  jumped 14.5% after
the cybersecurity company increased its revenue growth forecast
for its 2022 financial year.  urn:newsml:reuters.com:*:nL8N2QH1A2
    Tullow Oil  TLW.L  added 5.4% after the Africa-focused oil
and gas company swung to a profit in the first half.
 urn:newsml:reuters.com:*:nL4N2QH1M4
    

 (Reporting by Devik Jain and Amal S in Bengaluru; Editing by
Sherry Jacob-Phillips and Emelia Sithole-Matarise)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))
 
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