FTSE 100 Steady Amid Interest Rate Anticipation

The FTSE 100 remained stable as gains in energy stocks balanced declines in banks. Investors are focused on the Bank of England's interest rate decision and corporate earnings. Key industry performances show softness in banks and miners, but resilience in personal goods and home builders.

The FTSE 100 index held flat on Wednesday as gains in energy shares counteracted losses in heavyweight banks. Investors are keeping a close watch on upcoming corporate earnings and a crucial Bank of England interest rate decision.

Despite the broader index's flat performance, heavyweight oil and gas stocks experienced a modest rise, fueled by firmer crude oil prices. Meanwhile, major banks such as Standard Chartered and Barclays ticked lower, each dropping around 1%. Precious metal miners dropped by 2%, contrasting with a rise in the personal goods sector.

Looking forward, the Bank of England is expected to maintain interest rates steady on Thursday, though recent data showing less robust inflation and wage growth could justify a rate cut. Additionally, the services industry is showing signs of optimism with expectations for future activity hitting their highest level since 2024.

(With inputs from agencies.)