The FTSE 100 in the UK exhibited little movement on Wednesday, as declines in major banking stocks were counterbalanced by gains in the energy sector. Investors are currently attentive to the impending decision on interest rates from the Bank of England, alongside forthcoming corporate earnings reports later this week. The blue-chip FTSE 100 held steady at 9712.2 points by 1126; the FTSE 250 midcap index was also flat. Heavyweight oil and gas stocks rose 0.3%, tracking firm crude oil prices. Trimming gains on the broader index were banks, with Standard Chartered and Barclays down about 1% each.

Precious metal miners experienced a decline of 2%, positioning them among the top declining sectors, while personal goods led the gains with an increase of 1.6%. In the near term, the Bank of England is anticipated to maintain its current interest rates on Thursday; however, the recent decline in inflation and wage figures may bolster arguments for a potential rate reduction. Recent data indicates that output and new orders within Britain’s services sector experienced an uptick last month, as a survey revealed that expectations for activity over the forthcoming 12 months reached their highest level since October 2024.

In the context of other UK assets, the pound stabilized against the dollar following a 0.9% decline in the previous session, while gilt yields exhibited a mixed performance. Among individual stocks, Barratt Redrow advanced 1.3% after Britain’s largest homebuilder maintained its annual completions target.

Retailer Marks & Spencer said it will have fully recovered from April’s cyber hack by March next year, forecasting second half profit “at least” in line with last year. The shares experienced an increase of 1.7% in the most recent trading session. Later this week, earnings from British Airways parent IAG, drugmaker AstraZeneca, and spirits maker Diageo would also be on investors’ radar.