(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Just Eat Takeaway drops after media report Deliveroo,
* UK CPI rockets by 3.2% on rebound from restaurant discount
* Darktrace ups 2022 growth forecast, shares rise
* FTSE 100 down 0.1%, FTSE 250 off 0.3%
Sept 15 (Reuters) - UK shares fell on Wednesday, dented by
industrial and consumer discretionary stocks, after data showed
British inflation accelerated to a 9-year high, reigniting
concerns about a sooner-than-expected policy tightening by the
Bank of England.
The blue-chip index slipped 0.1%, with food delivery
company Just Eat Takeaway.com dropping 3.5% to the
bottom of the index following a media report that Amazon and
rival Deliveroo will offer free delivery to prime
subscribers in the UK.
Deliveroo shares were up 0.9%.
Losses in the index, however, were limited by decent gains
by heavyweight oil majors BP, Royal Dutch Shell
and life insurers.
The domestically focused mid-cap FTSE 250 index
Consumer prices last month rose by 3.2% in annual terms, its
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.
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.
"The key question for investors is how this impacts the
timing of the first rate hike. The bank will be reluctant to
move until it is also confident that the economy has
successfully negotiated the end of the furlough scheme," said
Hugh Gimber, global market strategist at J.P. Morgan Asset
"With inflation running hot and wages on the rise, the bank
looks quite likely to be one of the first major central banks to
hike rates next year."
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.
Among other stocks, Darktrace jumped 10.3% after
the cybersecurity company increased its revenue growth forecast
for its 2022 financial year.
Tullow Oil added 5.6% after the Africa-focused oil
and gas company swung to a profit in the first half.
(Reporting by Devik Jain in Bengaluru; Editing by Uttaresh.V
and Sherry Jacob-Phillips)