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2026.07.2207:39:29UTC+00FTSE 100 Cautiously Higher

The FTSE 100 inched higher on Wednesday as investors weighed softer-than-expected UK inflation against another rise in oil prices, with commodity-linked stocks driving gains. Annual UK inflation slowed to 2.6% in June from 2.8% in May, undershooting forecasts of 2.7% and marking its lowest level since March 2025, helped by cheaper petrol. At the same time, Brent crude rose to its highest level in more than a month after President Donald Trump warned of further strikes on Iran and pledged retaliation if Iran-backed Houthi forces disrupted shipping in the Red Sea. The rise in crude prices lifted energy shares, with Shell up 0.5% and BP gaining 1%. Mining stocks also advanced, with Endeavour Mining up 2.5% and Fresnillo 1% higher; Fresnillo reiterated it is on track to meet its production guidance. Banks and defence stocks also moved higher, contributing to the index’s modest advance.

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