(ADVISORY- Follow European and UK stock markets in real time on
the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)
* FTSE 100 down 0.2 pct ahead of Fed decision
* Dixons Carphone falls back after results
* UK data points to mixed economic picture
* Micro Focus top FTSE 100 riser
By Alistair Smout
LONDON, Dec 14 Britain's top share index dipped
on Wednesday, dropping back from its highest close since
October, as Dixons Carphone turned lower after results.
Britain's FTSE 100 was down 13.16 points, or 0.2
percent, at 6,955.41. It edged down from 6,968.57, which had
been its highest close since October 28.
Dixons Carphone was the top faller, down 5.8 percent
after its results.
It had opened higher, after slightly beating estimates.
However, the results provided little reason for analysts to
raise estimates, and one trader flagged comments from the
chairman that suppliers might raise prices as prompting the
"The uncertainty is weighing, but also the fact that the
pound has weakened significantly... is clearly increasing the
costs of the company," said Ipek Ozkardeskaya, senior market
analyst at London Capital Group, who added that the share price
reaction was nevertheless an overreaction
Traders said that the index was also in a tight range ahead
of the U.S. Federal Reserve's decision on interest rates, due
after the market closes.
Miners were on the back foot as copper dropped ahead of the
The FTSE 250 mid-cap index, which has higher
domestic exposure, slightly underperformed the blue chips.
British households are currently feeling the least financial
pressure since May 2015, buoyed by the economy's solid
performance since June's Brexit vote, but they are increasingly
worried about higher inflation next year, a survey showed on
In a similarly mixed update on the state of the UK economy,
the number of people in work in Britain fell for first time in
more than a year in the three months to October, official data
showed on Wednesday, but wages rose.
"We remain pessimistic about both consumption and investment
as the UK economy heads into 2017," analysts at UBS said in a
"(We) reiterate our view that further monetary easing during
the course of next year is likely to be required to ensure the
loss of economic momentum is cushioned."
Among FTSE 100 risers, Micro Focus rose 4 percent
and was set for its biggest rise in 3 months after results beat
(Reporting by Alistair Smout Editing by Jeremy Gaunt)