FTSE 100 Steady as Investors Eye Inflation Data and Energy Stocks Surge

The UK’s FTSE 100 remained largely unchanged as investors assessed various corporate updates before key U.S. inflation data release. Energy stocks rose due to supply concerns tied to Iran and Venezuela. Investors awaited remarks from the Bank of England Governor on potential monetary policy changes.

The UK's FTSE 100 index remained stable on Tuesday, reflecting the market's anticipation of crucial U.S. inflation data. Energy stocks showed significant gains, driven by reduced supply prospects from Iran and Venezuela, which bolstered oil prices and contributed to advances in the FTSE 350 Oil & Gas index.

While media, beverages, and real estate sectors moved upwards, the precious metals and mining index dropped 1.5% following a recent surge. Investor focus included the expected remarks from Bank of England Governor Andrew Bailey, potentially shedding light on future monetary policies.

Despite a decrease in UK inflation expectations to 3.6% in December, concerns remain about inflation staying above the target. Meanwhile, Raspberry Pi's shares fell by 6% due to supply issues, while Whitbread's stock rose 4.8%, attributing gains to a positive outlook on business rates.

(With inputs from agencies.)