London midday: FTSE nudges up as investors eye US inflation print

12th Aug 2026 10:50

(Sharecast News) - London stocks had nudged higher by midday on Wednesday, helped along by solid performances from housebuilders and miners, but gains were muted after fresh attacks on shipping in the Middle East and ahead of a key US inflation reading.

The FTSE 100 was up just 0.1% at 10,849.60, while Brent crude was down 0.2% at $88.73 a barrel and West Texas Intermediate was also down 0.2%, at $83.07.

Summing up the latest Middle East developments, Danske Bank said: "Brent crude yesterday briefly climbed above USD 90/bbl before reversing course, as headlines from Pakistan suggested the US and Iran may be close to some form of deal.

"However, overnight fresh attacks on shipping renewed concerns over regional escalation. Reports of a suspected Houthi attack in the Bab el-Mandeb Strait and a US strike on a vessel in the Gulf of Oman have added to uncertainty causing Brent crude to climb back towards USD 90/bbl."

Looking to the rest of the day, the US consumer price index for July at 1330 BST will be the highlight.

Neil Wilson, UK investor strategist at Saxo Markets, said: "Today's US inflation data is the week's banner event as it will finetune how investors view the likelihood of the Fed hiking rates in September. It's expected to print +0.2% in headline CPI with the annual rate down to +3.4%, with the core reading are expected at +0.1% and +2.5%. Markets imply a September rate hike is a coin toss so this inflation reading really matters - particularly as the Fed has made it pretty clear that it's only looking at the inflation side of its mandate.

"A hot print will present Fed chair Kevin Warsh with an early test of his mettle - will he follow up those tough words on inflation with action, or continue to lean on jawboning the market and higher bond yields due to oil/inflation dynamics? I continue to think the Fed will have to follow through with at least one hike this year as it remains short on the inflation side of its mandate, and it shouldn't have to worry too much about the employment side, despite those apparently weak payrolls numbers."

In equity markets, housebuilders and miners were among the top performers, with Barratt, Persimmon, Vistry, Taylor Wimpey, Fresnillo, Antofagasta and Anglo American all up.

Ocado shot higher as JPMorgan reiterated its 'overweight' rating on the stock and lifted the price target to 290p from 245p as it continues to view the risk/reward as "highly attractive".

Infrastructure group Balfour Beatty rallied after it said its full-year performance was set to be "slightly" ahead of guidance following a strong first half.

Evoke was also higher even as the William Hill and 888 owner reported a drop in interim profit and flat revenue as it took a hit from gaming duties, mainly in the UK.

Tesco fell after Shore Capital downgraded shares of the supermarket retailer to 'hold' from 'buy' and suggested investors pause for breath.

Hill & Smith fell despite upgrading its full-year expectations after a solid first half, with robust demand for infrastructure solutions in the US.

Raspberry Pi was weaker as Berenberg started coverage of the shares at 'hold'. The bank said it sees multiple high-growth markets for the company to increase its market penetration and gross profit participation. However, it also recognised risks within the model due to the "fragmented customer base, high memory prices and required capital expenditure relating to the semiconductor business buildout and continued innovation".

Market Movers

FTSE 100 (UKX) 10,849.60 0.05%

FTSE 250 (MCX) 24,939.58 0.56%

techMARK (TASX) 6,150.82 -0.05%

FTSE 100 - Risers

Barratt Redrow (BTRW) 328.30p 2.97%

Fresnillo (FRES) 3,028.00p 2.85%

Persimmon (PSN) 1,189.00p 2.45%

Melrose Industries (MRO) 497.60p 1.93%

Rolls-Royce Holdings (RR.) 1,562.40p 1.90%

Antofagasta (ANTO) 4,094.00p 1.86%

Halma (HLMA) 3,786.00p 1.83%

Admiral Group (ADM) 3,796.00p 1.82%

3i Group (III) 2,794.00p 1.67%

Anglo American (AAL) 4,082.00p 1.64%

FTSE 100 - Fallers

Burberry Group (BRBY) 1,136.00p -2.91%

Tesco (TSCO) 448.60p -2.73%

Marks & Spencer Group (MKS) 390.30p -2.51%

Sainsbury (J) (SBRY) 338.60p -1.63%

Relx plc (REL) 2,566.00p -1.57%

IG Group Holdings (IGG) 1,369.00p -1.51%

GSK (GSK) 1,871.50p -1.48%

BP (BP.) 528.50p -1.44%

AstraZeneca (AZN) 11,690.00p -1.33%

Haleon (HLN) 360.80p -1.26%

FTSE 250 - Risers

Ceres Power Holdings (CWR) 476.60p 10.54%

Balfour Beatty (BBY) 940.50p 8.84%

Vistry Group (VTY) 270.00p 4.98%

Ocado Group (OCDO) 228.60p 3.90%

Endeavour Mining (EDV) 4,316.00p 3.18%

Taylor Wimpey (TW.) 86.86p 3.08%

Hochschild Mining (HOC) 539.00p 3.06%

Pan African Resources (PAF) 114.60p 2.96%

AEP Plantations (AEP) 179.00p 2.64%

Breedon Group (BREE) 356.40p 2.53%

FTSE 250 - Fallers

Patria Private Equity Trust (PPET) 604.00p -3.21%

Energean (ENOG) 736.00p -3.17%

Raspberry PI Holdings (RPI) 686.75p -2.73%

Greggs (GRG) 1,856.00p -1.95%

Herald Investment Trust (HRI) 2,980.00p -1.81%

International Workplace Group (IWG) 179.50p -1.81%

Plus500 Ltd (DI) (PLUS) 3,752.00p -1.78%

Baltic Classifieds Group (BCG) 206.60p -1.71%

Watches of Switzerland Group (WOSG) 743.00p -1.39%

Partners Group Private Equity Limited. (EUR) (PEY) 7.14p -1.38%