FTSE 100 Live: Index Opened 37.01 Points Higher at 10,65.14, Brent at USD 107.7

The FTSE 100 opened 37.01 points higher at 10,695.14 ahead of UK inflation data and a US Federal Reserve interest rate decision. Brent crude futures fell 1.01% to USD 107.7 per barrel. US West Texas Intermediate (WTI) declined 1.48% to USD 104.2 per barrel. 

Sterling was quoted at USD 1.3488 early Wednesday, slightly higher than USD 1.3485 at the London equities close on Tuesday. Against the euro, sterling rose to EUR 1.1682 from EUR 1.1681 a day prior.

Gainers & Losers 

On the upside, Barratt Redrow climbed 7.56% to 297.30p. Persimmon advanced 3.37% to 1,135.50p, while Antofagasta gained 3.26% to 3,615p. Fresnillo rose 3.23% to 2,943p, Endeavour Mining added 2.77% to 4,564p, and NatWest Group increased 2.35% to 705.40p.

On the downside, Unilever fell 1.45% to 4,574p. Admiral Group declined 0.87% to 3,854p, while Reckitt Benckiser Group dropped 0.79% to 5,026p. London Stock Exchange Group slipped 0.71% to 8,142p, Coca-Cola Europacific Partners lost 0.59% to 7,640p, and Next edged 0.48% lower to 14,620p.

Babcock Maintains its Full-year Guidance

Babcock International reaffirmed its full-year guidance, citing strong momentum across its marine, nuclear and land businesses. The company said trading during the first five months of fiscal 2027 remained in line with expectations. 

Analysts expect Babcock to post fiscal 2027 sales of GBP 5.49 billion and underlying operating profit of GBP 464 million, up from GBP 5.19 billion and GBP 293 million a year earlier. 

Barratt Redrow’s Pre-tax Profit Jumps

Barratt Redrow surged as the company released its FY2026 full-year results, posting adjusted profit before tax of GBP 572.8 million, higher than the analyst consensus of approximately GBP 540 million.

The company also announced a GBP 400 million capital return to shareholders, to be delivered through share buybacks. 

The profit beat was supported by total home completions rising 5% to 17,667 for the year, net cash at year-end reaching GBP 772 million, and the company achieving GBP 100 million in Redrow integration synergies while cutting administrative expenses to GBP 330 million. 

UK Inflation Rises

UK consumer price inflation rose to 3.1% in August from 2.9% in July, in line with analysts' forecasts, but remained above the Bank of England’s 2% target. 

The Office for National Statistics recorded a 0.5% monthly rise in prices, compared with 0.3% a year earlier. CPIH, which includes owner-occupier housing costs, accelerated to 3.3% from 3.1%. 

Petrol prices rose 9.1p during August to an average of 161.3p a litre, their highest since November 2022, while diesel climbed 14.2p to 181.8p.  Core CPI was unchanged at 2.6%, while services inflation remained at 3.4%.

Also Read: Stock Market Update: Nifty 50 Opened 0.36% Higher, Sensex Climbed 245.48 Points

Global Market View

In US, Wall Street closed lower on Tuesday as rising oil prices and government bond yields weighed on equities. The S&P 500 fell 0.4%, the Dow Jones declined 0.6% and the Nasdaq dropped 0.8%.

 In Asia on Wednesday, Tokyo's Nikkei 225 gained 0.69% to 63,923, while China’s Shanghai Composite rose 0.71%. Hong Kong’s Hang Seng advanced 0.20%, and South Korea’s Kospi edged up by 1.37%. In India, both the Nifty 50 and the Sensex rose by 0.55% and 0.53%, respectively.