The FTSE 100 Index Opens 0.07% Lower

The FTSE 100 Index is falling 8 points. Losses were driven by Rightmove (-1.88%), Entain (-1.73%) and Rio Tinto (-1.44%). Biggest rises came from Antofagasta (2.48%), Endeavour (2.20%) and Fresnillo (1.96%).

The FTSE 100 traded close to flat on Wednesday as investors digested UK inflation data and awaited the Federal Reserve’s policy decision for further signals on the global interest rate outlook. Falling oil prices continued to weigh on the index, with energy majors Shell and BP both down around 1%. BAT and Rio Tinto also declined more than 1%, while Unilever slipped about 0.7%. On the upside, Rolls-Royce gained around 1.5% and AstraZeneca also traded higher. UK markets scaled back expectations for Bank of England rate increases this year after inflation unexpectedly remained unchanged in May, supporting a more cautious approach from some policymakers ahead of Thursday’s meeting. Meanwhile, Brent fell to a three-month low after dropping 15% over four sessions on expectations that a US-Iran agreement to reopen the Strait of Hormuz could boost supply and reduce inflation pressures. Investors are now turning their focus to the Federal Reserve’s latest decision and its view on future policy.

The FTSE 100 Index gained 75 points or 0.72 percent on Tuesday to close at 10506 points. Gains were led by Endeavour (2.90%), Convatec Group (2.89%) and Rolls-Royce (2.68%). Biggest losers were Frasers Group (-4.78%), BT (-2.25%) and B&M European Value (-1.87%).