FTSE 100 Flat as UK Inflation Eases Rate-Hike Bets
The FTSE 100 trades around the flatline after UK July inflation rose to 2.9% year-on-year from 2.6% in June, prompting a modest reduction in Bank of England rate-hike expectations.
The FTSE 100 traded around the flatline on Wednesday as gains in commodity-related stocks were offset by weakness in banking shares. Lenders came under pressure as investors slightly reduced expectations for a Bank of England rate hike later this year. 6% in June, in line with market expectations, although traders viewed the increase as largely anticipated due to higher energy costs. The data prompted a modest reduction in rate-hike bets.
7% after CFO John Rogers announced his resignation to take up a position in the US. Meanwhile, energy and mining stocks provided support. 6%. 5%.