The FTSE 100 index in London falls following data on inflation

FTSE Futures

London shares experienced a slight decline on Wednesday as investors evaluated a consistent inflation report, while Smith+Nephew saw a drop following the announcement of its finance chief’s departure.

The blue-chip FTSE 100 index fell 0.1% to 10,711.52 points by 0926, while the midcap FTSE 250 slipped 0.3% to 24,483.70 points.

  • British inflation increased to 2.9% in July, marking its highest point since March, up from a 15-month low of 2.6% in June, as reported by the Office for National Statistics. This rise is attributed to a surge in the household energy price cap set by regulator Ofgem.
  • The data, released a day following a weaker labour market report, increased market expectations that the Bank of England will maintain rates at their current level in September, rising to 82% from approximately 75% the previous day.
  • Smith+Nephew fell 3.38% after it announced that its finance chief John Rogers would step down at the end of September to take up an external position in the U.S., concluding his approximately two-and-a-half-year tenure with the medical products company. This departure follows closely on the heels of a revision to its annual revenue growth forecast.
  • Oil prices increased for the fourth consecutive day as investors assessed the mixed signals from Tehran and Washington regarding the accessibility of the Strait of Hormuz for maritime traffic. Oil majors Shell and BP rose 0.7% and 1.1%, respectively.
  • Global bond yields remained close to their highest levels in decades, as concerns regarding increasing sovereign debt elevated borrowing costs and unsettled stock markets globally on Tuesday.
  • Britain’s competition regulator is investigating whether Trainline, Virgin Atlantic, and RED Driving School were transparent in disclosing total pricing when customers made bookings. Trainline shares experienced a decline of 15.4%.
  • Among mid-cap stocks, oil and gas producer Ithaca Energy gained 15.8% after raising its 2026 dividend forecast.
  • IG Group opens new tab dropped 2.7% after broking UBS cut target price to 1,700 pence from 2,200 pence.