India, July 14 -- The UK stock market shed ground Tuesday morning as concerns about inflation and interest rates amid rising U.S.-Iran tensions hurt investor sentiment. Oil prices climbed higher and bond yields moved up, resulting in a drop in appetite for riskier assets such as equities.
The benchmark FTSE 100 was down 43.80 points or 0.42% at 10,454.49 at noon.
Intercontinental Hotels Group dropped 3.7%. Pearson, Melrose Industries, 3i Group, Relx, Informa, IAG, Barratt Redrow, Lion Finance, Persimmon and Natwest Group lost 2%-2.8%.
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