FTSE 100 down 0.4, FTSE 250 adds 0.1
Sage Group falls after lowering annual revenue forecast
BT Group up after CEO aims for more than double free cash flow

May 16 Reuters London39;s FTSE 100 fell on Thursday as multiple companies including oil giant BP traded exdividend, while a drop in Sage Group following its forecast cut also weighed on the benchmark index.

The bluechip FTSE 100 was down 0.4 and is set for the worst day in a month, while the midcap FTSE 250 edged 0.1 higher inching towards the key 21,000 mark.

Yesterday39;s inflation data sent markets hitting record highs. This is just shortterm profit taking, said Axel Rudolph, senior market analyst at IG Group.

This U.S. inflation was the big event of the week and now it39;s out of the way and some people take money off the table.

A soft U.S. inflation report on Wednesday ignited hopes for two rate cuts from the Federal Reserve this year, sparking a global rally.

Britain39;s data calendar is relatively light, which puts the spotlight on the Bank of England39;s external member of the monetary policy committee Megan Greene due to speak later in the day.

Shares of BP fell 1.9, GSK was down 1.0, Kingfisher slumped 3.7 and Tesco dropped 2.0 as these companies traded without the entitlement to their latest dividend payouts.

BT Group surged 10.3 and was the top gainer on the benchmark index after the broadband and mobile operator39;s new CEO set out a path for a more than double free cash flow over the next…