UK Markets Brace for Key Economic Data Amid Tax Raid Concerns

The UK's stock indexes opened flat as investors anticipate important economic data this week. Gambling companies saw declines due to potential government tax raids. Key economic figures, including CPI and retail sales, are expected. Meanwhile, specific stocks, such as TI Fluid Systems, showed significant movement.

On Monday, the UK's main stock indexes opened with minimal movement as investors prepared for a crucial set of economic data expected later this week. Reports of potential tax raids on gambling firms further impacted the market, with companies like Flutter and Entain experiencing significant losses.

By 0718 GMT, the blue-chip FTSE 100 index remained flat at 8247.86, while the mid-cap FTSE 250 saw a slight decline of 0.1%. Reports suggesting the government might introduce a £3 billion tax levy on gambling firms led to sharp declines in stock prices within the sector.

Investors are closely watching for a series of key economic indicators from Britain, including payroll and employment data set for Tuesday. Additionally, the Consumer Price Index figures for September are due this Wednesday, along with Producer Price Index data. The week will round off with retail sales figures on Friday.

(With inputs from agencies.)