London pre-open: Stocks to edge up as investors eye US inflation, Nvidia results

26th Aug 2026 07:33

(Sharecast News) - London stocks were set to edge up at the open on Wednesday as investors eyed a key US inflation reading and quarterly results from US chipmaker Nvidia.

The FTSE 100 was called to open around 13 points higher. At 0725 BST, Brent crude was down 1.8% at $87.05 a barrel and West Texas Intermediate was 1.8% lower at $80.85 following reports that Iran and Oman are getting closer to reaching a deal to secure an interim reopening of the Strait of Hormuz.

Danske Bank said: "Technical talks between the two sides are set to continue as they work toward a permanent maritime corridor. Oil prices have come under pressure this week after Washington's latest measures to intensify economic pressure on Iran proved less aggressive than markets had expected, with the US stopping short of imposing secondary sanctions on Iran's trading partners."

As far as Nvidia is concerned, XTB research director Kathleen Brooks said it's expected to deliver another "monster" revenue report, with over $92.05bn of revenue expected for last quarter.

"These results will also offer insight into demand for AI infrastructure, how Nvidia is managing Chinese competition and what the future holds. Investors are desperate to predict when we will hit peak AI, but Jensen Huang could keep them waiting for some time if the results are as good as expected," she said. The results are due after the close of US markets.

Investors will also eye US core PCE inflation - the Federal Reserve's preferred measure of inflation - for July, due out at 1330 BST, and the second estimate of US Q2 GDP.

Neil Wilson, UK investor strategist at Saxo Markets, said the data will detail how far away the central bank is from achieving its mandate and potentially reset market expectations for the path of policy rates.

UK corporate news was scarce, but gold miner Hochschild Mining posted a sharp jump in first‑half revenue and profits, though it also flagged a notable rise in attributable all‑in sustaining costs.

Hochschild said revenues surged 62% year‑on‑year to $844.4m, with adjusted underlying earnings up 119% to $491.5m and pre-tax profits climbing from $109.3m to $365.8m. However, Hochschild also said attributable production for the half came in at 151,830 gold‑equivalent ounces, down from 165,176 ounces in H125, with attributable AISC rising to $2,448 per ounce from $1,873 per ounce a year earlier.

Rockhopper Exploration announced that a new evaluation of its part-owned Sea Lion field in the North Falkland Basin has shown higher estimated volumes and an increased valuation compared with the last report.

The new evaluation, which incorporates the newly accelerated Central Development Area, accelerated development and higher commodity price assumptions, has added $788m to the net present value of its 35% interest in Sea Lion.