The UK’s FTSE 100 continued its upward trajectory on Wednesday, as investors found reassurance in reports regarding U.S. initiatives aimed at resolving the conflict in Iran, while simultaneously evaluating the latest inflation figures from Britain. According to a report on Tuesday, Washington has proposed a 15-point plan aimed at resolving the ongoing conflict in the Middle East. According to Israel’s Channel 12, citing three sources, the U.S. was pursuing a month-long ceasefire to deliberate on the 15-point plan. These developments contributed to a 1.1% increase in the blue-chip FTSE 100 index at 1028 and a 1.3% rise in the midcap FTSE 250.

British consumer price inflation remained at 3.0% in February, consistent with January’s rate, according to official figures released on Wednesday. This stability precedes a probable upward shift as geopolitical tensions in the Middle East exert upward pressure on prices. Markets have incorporated expectations for two or three quarter-point increases this year, as the Bank of England has significantly revised its inflation forecast, anticipating a rise towards 3.5% by mid-year.

• The energy sub-index experienced a decline of 0.2% following a decrease in oil prices, attributed to the potential for a ceasefire in the ongoing conflict in the Middle East. Oil major Shell experienced a decline of 0.6%.
• Miners rose 3.4% as gold prices gained following a decline in oil prices, which alleviated concerns regarding inflation and interest rates. Meanwhile, banks climbed 2.1%, with both sectors providing the most significant support for the day.
• EnQuest fell 6.4% after the North Sea-focused oil producer maintained its 2026 production outlook, banking on investments in Britain and Southeast Asia, following the impact of Britain’s windfall levies on last year’s post-tax profit.
• ASOS rose 15% after the online retailer reported a 50% jump in first-half profit, aided by cost cuts, app improvements, and a sharper fashion offering.