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London Markets: U.K. car production suffers worst July since 1956

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U.K. vehicle output suffered through the worst July since 1956, hit not just by the semiconductor shortage affecting manufacturers globally but also the so-called pingdemic.

According to the Society of Motor Manufacturers and Traders, car output dropped by 38% in July. The pingdemic refers to staff getting “pinged” by the U.K. contact tracing app, forcing them to stay home even if they have not contracted coronavirus. Nissan
7201,
-0.40%

and Tata Motors
TTM,
+0.26%

unit Jaguar Land Rover were the top vehicle makers in the U.K. last year.

The FTSE 100
UKX,
-0.27%

fell 0.3% to 7127.90, in a quiet day ahead of the Jackson Hole address by Fed Chair Jerome Powell.

CRH
CRH,
+2.36%

rose 2% after the Dublin-based, U.K.-listed building materials company reported stronger-than-forecast earnings. Polymetal International
POLY,
-3.02%

slipped 3% after the Anglo-Russian gold miner hiked its capital expenditure cost estimates.

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