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Markets React to Apple’s Blockbuster Event

European stocks are likely to slip modestly at the opening bell as markets around the world retreat from record highs following Apple Inc.’s (AAPL)  gala iPhone launch in California which rippled through the global tech industry.

Britain’s FTSE 100 is once again expected to be held down by the surging pound, which traded at a near one-year high of 1.3302 against the U.S. dollar overnight after faster-than-expected August inflation data Tuesday increased bets on possible intervention at the Bank of England’s next rate meeting Thursday.

Around Europe, however, a modestly softer single currency should provide some support for equities, but opening calls from financial bookmakers IG suggest investors may use yesterday’s Apple event in Cupertino, California as a catalyst for profit-taking after three consecutive session gains.

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