FTSE 100 down 0.5, FTSE 250 off 0.7

June 21 Reuters UK shares fell on Wednesday as data signalling stubborn price pressures deepened concerns that the Bank of England may need to do more, with investors also awaiting fresh clues on the Federal Reserve39;s policy tightening plans from Chair Jerome Powell.

Pressured by a firm sterling , the exportoriented FTSE 100 was down 0.5 at 0710 GMT. The FTSE 250 midcap index shed 0.7.

After data showed consumer inflation was unchanged at 8.7 in May, contrary to expectations of a slight fall, traders ramped up their bets of a 50 basis point bps BoE rate hike on Thursday from the 25 bps hike anticipated earlier.

In a testimony later in the day, Powell is poised to be questioned on the future of rate hikes by the world39;s most influential central bank.

Bucking a weak broader market trend, energy stocks gained 0.4, tracking higher crude oil prices

Halfords gained 5.4 on plans to grow its bikes and car parts39; market share to boost profits, while Berkeley Group Holdings dropped 2.3 after the highend homebuilder warned of demand concern.

Reporting by Ankika Biswas in Bengaluru; Editing by Sonia Cheema

Source Reuters