7.15am: FTSE 100 set for negative start
The FTSE 100 is set for a slightly negative start on Wednesday as UK inflation is revealed to have risen more than expected last month.
A fall of 13 points is predicted on the futures market, after the London index gained 31.5 points yesterday to close at just over 9,189.
A few minutes ago, the Office for National Statistics published its price data for July, showing that the consumer price index was up 3.8% on a year ago, rising from 3.6% a month ago and higher than the 3.7% expected.
This confirms inflation increasing towards the Bank of England’s forecast peak of 4.0% next month.
Overnight, Wall Street trading was lacklustre, with the Dow Jones flat, the S&P 500 dropping 0.6% and the tech-heavy Nasdaq falling 1.5%.
Asian markets are mixed this morning.