The FTSE 100 barely flinched on Wednesday, adding a mere 0.068%, despite headline-grabbing inflation numbers.
“Surging UK inflation figures and more volatility in Asian shares didn’t upset the apple cart too much on Wednesday morning as the FTSE 100 started more or less flat,” says AJ Bell investment director Russ Mould.
However, there are still some serious concerns among investors over the state of the wider economy.
“Weakness among airlines and Burberry, whose fortunes are closely tied to China, reflected a shift in investors’ concerns from the risks of the economy overheating to the recovery being knocked off course.”
“This follows some weak Chinese economic data as it, like many countries across the world, wrestles with the more infectious Delta variant of Covid.
“Helping to keep the FTSE 100 afloat were some more stodgy defensive businesses such as catering giant Compass, consumer goods firm Reckitt Benckiser and tobacco maker Imperial Brands.”
FTSE 100 Top Movers
Imperial Brands (1.88%), Lloyds (1.81%) and BP (1.48%) have made the most gains out of the UK’s top 100 companies.
At the other end of the FTSE 100, Just Eat (-4.22%), Rolls-Royce (-2.62%) and IAG (-2.36%), make up the bottom three.
