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UK stocks slide, Cineworld higher on December box office pick-up

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UK stocks fell on Friday, reflecting weak investor sentiment in global markets over fears of a faster rise in US interest rates, although data pointing to a much stronger-than-expected economic recovery in November helped to limit losses.

The blue-chip FTSE 100 slipped 0.2% at 08:17 GMT, following the decline of its Asian and European peers after several Federal Reserve officials spoke of inflation and interest rate hikes, pushing down the Wall Street indices Thursday.

Still, the FTSE 100 was on track for a fourth consecutive weekly gain.

Data showed the UK economy grew much stronger than expected by 0.9% in November, ultimately lifting it above its size just before the country entered its first COVID-19 lockdown .

Cineworld shares rose 2.7% as its box office sales rebounded in December thanks to the success of the Marvel superhero film “Spider-Man: No Way Home”.

Discount retailer B&M European Value Retail fell 4.1% after announcing the sale of its shares. (Reporting by Sruthi Shankar in Bangalore; Editing by Subhranshu Sahu)