Market Overview

The FTSE 100 slipped 0.06% to trade at 09:03 ET (13:03 GMT), while Germany’s DAX fell 0.40% and France’s CAC 40 dropped 0.55%. The British pound gained 0.43% against the U.S. dollar, reaching $1.3406.

U.S. Inflation Data

U.S. consumer‑price data for June showed a 0.4% month‑on‑month decline, with the annual rate at 3.5% year‑on‑year, according to the Bureau of Labor Statistics. Core CPI, which excludes food and energy, was unchanged from the previous month and is up 2.6% on a yearly basis, reflecting the steepest gasoline‑price drop since 2022.

Oil Price Surge

Brent crude advanced 4.4% to $86.92 a barrel and WTI rose 3.3% to $80.69, reaching a fresh one‑month high. The rally followed U.S. President Donald Trump’s announcement that the United States is reinstating its blockade of Iranian ports and will levy a 20% security fee on cargo transiting the Strait of Hormuz. Hapag‑Lloyd criticised the fee as “fundamentally wrong,” arguing that tolls are justified only when major infrastructure investments are involved. Oman’s Foreign Ministry said it is working with all parties to restore free navigation through the waterway. Unclaimed strikes were reported in Bushehr, Iran’s civilian nuclear‑plant city, according to local officials cited by IRNA; the United States has not claimed responsibility.

Precious Metals

Gold futures climbed 1.81% to $4,078.20 per ounce, while spot gold rose 1.82% to $4,073.88 per ounce.

UK Retail Sales

Data from the British Retail Consortium and KPMG indicated that total UK retail sales grew 1.9% year‑on‑year in June, down from a 3.7% increase in May and below the 3.1% pace recorded in June 2025. In‑store non‑food sales fell 1.1%, a deterioration from the 0.4% decline in May, whereas online non‑food sales rose 5.1%, easing from an 11% surge in May.

Company Updates

  • Robert Walters reported a 3.9% decline in first‑half net fee income, with second‑quarter net fees down 4.5%.
  • Ashmore beat net‑inflow expectations as strong demand for emerging‑market assets drove higher client inflows.
  • Watches of Switzerland noted continued robust U.S. demand into the new financial year and signs of recovery in the UK market.
  • Debenhams said trading momentum persisted through June and July, with its marketplace model supporting gross‑merchant‑value growth and margin improvement.
  • Spire Healthcare appointed Debbie White as chair, succeeding Ian Cheshire, as takeover discussions with Toscafund continue.

Additional Market Moves

Other quoted tickers showed mixed performance: French CAC 40 –0.01%, German DAX –0.40%, Dutch AEX –0.01%, Swiss SMI –0.65%, gold spot +1.88%, Brent crude +2.58%, and various European indices with minor changes.