FTSE 100 stagnates as inflation data awaits; Collapse of the energy and mining sectors

London’s FTSE 100 index was unchanged on Monday as investors remained cautious ahead of key US inflation data, while the decline in oil and copper prices was significant.

The FTSE 100 blue-chip index was unchanged after hitting a two-week high on Friday, while the FTSE 250 mid-cap index was down 0.1% at 07:09 GMT. The energy sector fell 0.3%, as did oil prices, on concerns about longer-term higher interest rates in the US, which strengthened the dollar.

Industrial mining fell 0.7% as concerns about pent-up demand in China kept traders on the sidelines, sending copper prices lower. The Bank of England (BoE) left interest rates unchanged on Thursday, returning to hopes of an August rate cut following comments from policymakers.

Last week’s domestic inflation report showed that overall inflation in the economy had fallen to 2% – the BoE’s target. In the US, personal consumption expenditure (PCE) data will be released on Friday. Investors are counting on data that will show another slowdown in inflation.

The UK gross domestic product data are also known and will shed more light on the state of the British economy after Friday’s good retail sales data, which tempered the optimism stemming from BoE comments. Prudential gained 4.6% after the insurance group said it plans a $2 billion share repurchase program to be completed by mid-2026.

Shares of HG Group rose 4.7% after the e-commerce company agreed to sell its portfolio of luxury goods websites to Fraser’s Group for an undisclosed amount. Fraser Group rose 0.9%.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)