London pre-open: Stocks to edge lower as investors mull inflation data

19th Aug 2026 07:35

(Sharecast News) - London stocks were set to edge lower at the open on Wednesday as investors mulled the latest UK inflation figures.

The FTSE 100 was called to open around 10 points lower.

Data released earlier by the Office for National Statistics showed that consumer price inflation rose in July to 2.9% from 2.6% in June, in line with economists' expectations.

ONS deputy director for prices Mike Hardie said: "Inflation rose in July, driven by a sharp increase in gas prices following this month's change to the energy price cap. This was the largest rise in gas prices for almost four years.

"Other upward pressures included furniture prices falling by less than usual for this time of year, and also a smaller fall for clothing prices due to reduced discounting.

"The prices of raw materials and goods leaving factories slowed again, driven by a drop in the prices of crude oil and refined petroleum respectively."

In corporate news, medical technology firm Smith & Nephew said that chief financial officer John Rogers is stepping down from the board with immediate effect, to take up an external position in the US.

Senior Vice President Finance and Group Controller, Pierre Palassian, will serve as interim CFO until a successor has been appointed.

Chief executive Deepak Nath said: "I would like to thank John for his many contributions over the last three years as we've delivered the 12-Point Plan, improved our financial performance and developed the RISE strategy. He has been a valued colleague and a highly regarded member of our Executive Committee."

Elsewhere, Oxford Nanopore Technologies reported a narrowing of its interim losses as revenue ticked higher, driven by strong adoption in EMEAI and across Applied end markets.

In the six months to 30 June, losses narrowed to £48m from £71.8m, with revenue up 10.5% on the same period a year earlier to £116.7m.

CEO Francis Van Parys said: "We delivered encouraging results across these end-markets during the period, alongside continued progress in product development, operational performance and readiness for regulated markets.

"We also delivered strong financial progress, with gross margin increasing by 400 basis points to 62.2% and the adjusted EBITDA loss more than halving year-on-year to £22.1 million. These results demonstrate the impact of improving gross profit and disciplined cost control and show that we are tracking well towards adjusted EBITDA breakeven in FY27."