FTSE 100 falls for third day as Middle East tensions weigh
TheFTSE 100 closed lower for a third consecutive session on Wednesday, with investors remaining cautious over the Middle East conflict despite encouraging US inflation data. London’s blue-chip index. . .
TheFTSE 100 closed lower for a third consecutive session on Wednesday, with investors remaining cautious over the Middle East conflict despite encouraging US inflation data. London’s blue-chip index slipped11. 04 points, or 0. 1%, to 10,833. 15, while the FTSE 250 edged 0. 1% higher to 24,814. 88 and the AIM All-Share gained 0. 6% to 803. 93. US inflation eased as expected, with annual CPI slowing to3. 4% in July from 3. 5% in June, while core inflation fell to 2. 5%. Markets subsequently increased expectations that the Federal Reserve will leave interest rates unchanged at its September meeting. Middle East uncertainty remained a significant influence on sentiment. Brent crude rose to around$88. 88 a barrel, with the Strait of Hormuz remaining closed amid continuing disagreements between Washington and Tehran. Gold strengthened to$4,422 an ounce, helpingFresnilloandEndeavour Mininggain 2. 3% and 2. 5% respectively. Among individual stocks,Balfour Beatty surged 7. 1% to a record highafter raising its full-year guidance following stronger-than-expected first-half trading. Ocado jumped 16%after JPMorgan reiterated its positive stance and increased its price target to 290p. Retailers were among the session’s weakest performers. Burberry fell 4. 2%, Marks & Spencer 4. 0%, Tesco 2. 0% and Next 1. 6%, with Tesco also hit by a Shore Capital downgrade. Investors now turn to Thursday’sUK GDP figures, alongside eurozone industrial production and US producer-price inflation data. If anyone reads this article found it useful, helpful? Then please subscribewww. share-talk. comor followSHARE TALKon our Twitter page for future updates. Terms of Website UseAll information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned