U.K. stock markets traded in a mixed fashion Tuesday as investors digested the lack of an agreement to raise the U.S. debt ceiling and a series of economic data releases. The FTSE 100 index traded flat, the mid-cap FTSE 250 traded 0.2% higher, while the combined FTSE 350 fell 0.1%. High inflation resulted in Britain posting a larger-than-expected budget deficit in April. Flash PMI figures for May are expected to show strength in services but a downbeat manufacturing sector. BT Group stock rose 0.3% after Altice UK increased its stake in the telecoms giant to approximately 24.5%. Ninety One stock rose 0.6% after the asset manager announced that its directors had purchased £250,000 worth of shares. Pennon Group stock fell 2.1% after the water services company said that U.K. regulators have launched an investigation into its South West Water unit.
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