(Reuters) -UK’s FTSE 100 was flat on Wednesday as losses in heavyweight banks were offset by rising energy shares, while investors focus on a Bank of England interest rate decision and more corporate earnings later this week.
The blue-chip FTSE 100 held steady at 9712.2 points by 1126 GMT; the FTSE 250 midcap index was also flat.
Heavyweight oil and gas stocks rose 0.3%, tracking firm crude oil prices. Trimming gains on the broader index were banks, with Standard Chartered and Barclays down about 1% each.
Precious metal miners were among the top declining sectors, falling 2%, while personal goods led gains with a 1.6% rise.
Looking ahead, the Bank of England is widely expected to hold rates steady on Thursday, though recent softer inflation and wage data could strengthen the case for a rate cut.
On the data front, output and new orders in Britain’s services industry picked up last month, according to a survey showing that expectations for activity in the next 12 months were the highest since October 2024.
Among other UK assets, the pound steadied against the dollar after a 0.9% drop in the last session, and gilt yields were mixed.
Among individual stocks, Barratt Redrow advanced 1.3% after Britain’s largest homebuilder maintained its annual completions target.
Retailer Marks & Spencer said it will have fully recovered from April’s cyber hack by March next year, forecasting second half profit “at least” in line with last year. Its shares were last up 1.7%.
Later this week, earnings from British Airways parent IAG, drugmaker AstraZeneca and spirits maker Diageo would also be on investors’ radar.
(Reporting by Utkarsh Tushar Hathi and Shashwat Chauhan in Bengaluru; Editing by Sahal Muhammed)
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