The FTSE 100 opened 39 points lower at 10,291, weighed down by a surge in global bond yields and continued uncertainty surrounding the US-Iran conflict. This overshadowed a softer-than-expected UK inflation.

Gainers & Losers

Severn Trent surged 2.99% to £3,102, while Antofagasta advanced 1.54% to £3,705 and United Utilities Group gained 1.51% to £1,349.

Also, Polar Capital Technology Trust rose 1.48% to £652, while Marks & Spencer added 1.38% to £331.30 and Fresnillo edged higher by 1.25% to £3,233.

On the downside, Experian plunged 4.50% to £2,588, while RELX declined 3.32% to £2,443 and Reckitt Benckiser slipped 1.89% to £4,677.

Among other laggards, London Stock Exchange Group fell 1.04% to £9,360, while Games Workshop eased 0.99% to £18,940 and Lion Finance Group edged lower by 0.92% to £10,750.

UK Inflation Declines 

Inflation fell below expectations, analysts forecasted a 3% increase in the consumer price index for the 12 months to April, which would have been marginally down from 3.3% in March. 

Recent data from the Office for National Statistics (ONS) showed inflation came in at 2.8% last month.

Grant Fitzner, chief economist at the ONS, said the “notable fall” was led by lower energy bills, which were due to the “government’s energy bill support package” delaying the price surge.

M&S Profit Fell 

Marks & Spencer saw its profit decline; the retailer took a £100 million hit from its cyber attack last year.

Adjusted pre-tax profit came in at £671.4 million for the year to 28 March, down 23.8% from a year earlier. Statutory pre-tax profit fell 28.8% to £364.6 million, despite sales growing by 25% to £17 billion. 

In July, M&S chairman Archie Norman told MPs the cyber attack was “traumatic” and felt like hackers were “trying to destroy” his business.

Also Read: Stock Market Today: Sensex Falls 484 Points, Nifty 50 Slips Below 23,500

Experian Plans to Return $1 billion to its Investors

Experian unveiled plans to return $1 billion to its investors today, after what it called “a record year”, helped by productivity gains and cost savings from artificial intelligence. 

Profit before tax for the year to 31 March rose 26% to around $2 billion from revenue of $8.4 billion, up 12%. It also increased its dividend by 11% to $0.6925 per share. 

The fresh $1 billion capital return follows on from a $750 million share buyback for 2026. 

Brian Cassin, Experian’s chief executive, said the £24.2bn firm would be “taking a prudent approach to macroeconomic uncertainties linked to the Middle East” in the current financial year, but expects “another year of strong growth.”

Global Market View

In the US, selling dominated as the Dow Jones and the S&P 500 both dropped 0.7%, and the Nasdaq slid 0.8% as government bonds continued to exert pressure.

In Asia, South Korea’s Kospi fell 1.6% to 7,150,2 points. In Japan, the Nikkei 225 fell 1.3% to 59,757.2 points, while Taiwan’s TAIEX dropped 0.3%. In China, the Shanghai Composite dipped 0.2%. In India, the Nifty 50 and Sensex declined 0.11% and 0.18%, respectively.