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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

London open: Stocks steady, oil up as investors eye US inflation print

Wed 12 Aug 2026 07:56

(Sharecast News) - London stocks were steady in early trade on Wednesday, while oil was near $90 a barrel after fresh attacks on shipping in the Middle East, as investors eyed a key US inflation reading. At 0825 BST, the FTSE 100 was flat at 10,842.24, while Brent crude was up 0.9% at $89.74 a barrel and West Texas Intermediate was also 0.9% higher, at $83.76.

Summing up the latest Middle East developments and their impact on oil prices, Danske Bank said: "Brent crude yesterday briefly climbed above USD 90/bbl before reversing course, as headlines from Pakistan suggested the US and Iran may be close to some form of deal.

"However, overnight fresh attacks on shipping renewed concerns over regional escalation. Reports of a suspected Houthi attack in the Bab el-Mandeb Strait and a US strike on a vessel in the Gulf of Oman have added to uncertainty causing Brent crude to climb back towards USD 90/bbl. Although deal optimism is fading, any renewed diplomatic progress could quickly pull attention back towards last week's low near USD 80/bbl."

Looking to the rest of the day, the US consumer price index for July will be the highlight at 1330 BST.

Patrick Munnelly at Tickmill Group said: "CPI will decide whether the macro backdrop remains supportive.

"A soft inflation print could extend the equity rally and keep yields contained. But Brent near $90/bbl, unresolved Hormuz negotiations and resilient US demand mean the Fed cannot declare an all-clear. The market may get another good CPI number today, but it should be careful not to mistake a soft print for a solved inflation problem."

In equity markets, Ocado shot higher as JPMorgan reiterated its 'overweight' rating on the stock and lifted the price target to 290p from 245p as it continues to view the risk/reward as "highly attractive".

Infrastructure group Balfour Beatty surged as it said its full-year performance was set to be "slightly ahead" of guidance following a strong first half.

Hill & Smith edged up as it upgraded its full-year expectations after a solid first half, with robust demand for infrastructure solutions in the US.

Evoke was also higher even as the William Hill and 888 owner reported a drop in interim profit and flat revenue as it took a hit from gaming duties, mainly in the UK.

Tesco fell after Shore Capital downgraded shares of the supermarket retailer to 'hold' from 'buy' and suggested investors should pause for breath.

Market Movers

FTSE 100 (UKX) 10,842.24 -0.02% FTSE 250 (MCX) 24,816.55 0.07% techMARK (TASX) 6,144.07 -0.16%

FTSE 100 - Risers

Lion Finance Group (BGEO) 12,860.00p 1.82% Fresnillo (FRES) 2,992.00p 1.66% Spirax Group (SPX) 7,305.00p 1.66% Glencore (GLEN) 579.60p 1.01% Halma (HLMA) 3,754.00p 0.97% Anglo American (AAL) 4,055.00p 0.95% Coca-Cola Europacific Partners (DI) (CCEP) 7,815.00p 0.90% Antofagasta (ANTO) 4,052.00p 0.89% Vodafone Group (VOD) 118.35p 0.89% Airtel Africa (AAF) 326.00p 0.86%

FTSE 100 - Fallers

Tesco (TSCO) 455.20p -1.00% Burberry Group (BRBY) 1,153.00p -0.94% Pearson (PSON) 1,190.50p -0.91% Diageo (DGE) 1,745.00p -0.91% Bunzl (BNZL) 2,764.00p -0.86% Relx plc (REL) 2,579.00p -0.81% Experian (EXPN) 2,845.00p -0.77% Sainsbury (J) (SBRY) 340.90p -0.75% Smith & Nephew (SN.) 1,098.00p -0.72% GSK (GSK) 1,880.00p -0.71%

FTSE 250 - Risers

Balfour Beatty (BBY) 938.00p 9.07% Bloomsbury Publishing (BMY) 674.00p 4.98% Premier Foods (PFD) 193.80p 4.74% Ocado Group (OCDO) 231.20p 4.35% AEP Plantations (AEP) 181.00p 3.90% Serco Group (SRP) 277.40p 3.12% Dr. Martens (DOCS) 88.70p 2.90% Oxford Biomedica (OXB) 500.00p 2.67% W.A.G Payment Solutions (EWG) 109.00p 2.64% Pets at Home Group (PETS) 207.20p 2.60%

FTSE 250 - Fallers

Baltic Classifieds Group (BCG) 209.40p -4.76% CMC Markets (CMCX) 672.00p -4.00% Patria Private Equity Trust (PPET) 604.00p -3.21% Bytes Technology Group (BYIT) 403.40p -3.03% Partners Group Private Equity Limited. (EUR) (PEY) 7.06p -2.49% Mitchells & Butlers (MAB) 277.50p -2.32% Grafton Group Ut (CDI) (GFTU) 1,013.80p -2.05% Aston Martin Lagonda Global Holdings (AML) 34.24p -1.89% Raspberry PI Holdings (RPI) 671.75p -1.81% GB Group (GBG) 233.00p -1.69%

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