Source: Sharecast
The FTSE 100 index fell 0.66% to close at 8,938.32, having touched above the 9,000 level for the first time earlier in the session, while the FTSE 250 slipped 0.16% to 21,690.46.
In currency markets, sterling was last down 0.31% on the dollar to trade at $1.3385, while it gained 0.25% against the euro, changing hands at €1.1539.
“The UK market achieved a new milestone today as the FTSE 100 broke the 9,000 barrier for the first time,” said Neil Wilson at Saxo Markets.
“Overall, I’d say the FTSE has attraction from a value, income and defensive perspective given the volatility we have seen and changed macro backdrop and assumptions about US exceptionalism.
“It's offering some relative shelter with defensive names, benefitting from flow dynamics as investors look beyond the US, is enticing value-focused investors with relatively low multiples when growth is at a premium, offers a good dividend income yield and may be picking up a little juice from the government’s capital investment plans for defence, energy and houses.
“10,000 here we come?”
US inflation rises in June, eurozone industrial production rebounds
In economic news, US inflation rose modestly in June, coming in slightly below expectations as energy prices rebounded and costs for clothing and medical services climbed.
The headline consumer price index increased by 0.3% month-on-month, matching forecasts, while annual inflation held steady at 2.7%.
Core inflation, which excludes food and energy, rose 0.2% on the month and 2.9% year-on-year, just below the 3.0% economists had expected.
In the eurozone, industrial production rebounded sharply in May, rising 1.7% month-on-month after a 2.2% decline in April.
The increase was driven by strong demand for non-durable consumer goods, particularly pharmaceuticals, which surged 8.5%.
Energy production also rose by 3.7%, and capital goods output climbed 2.7%.
Among major economies, Germany led with a 2.2% gain, while Ireland posted a notable 12.4% jump.
Year-on-year, eurozone output grew 3.7%.
Elsewhere, China’s economy expanded by 5.2% in the second quarter, slightly ahead of forecasts despite ongoing trade tensions with the United States.
The pace marked a slowdown from the 5.4% growth recorded in the first quarter.
Industrial production grew strongly by 6.8% in June, boosted by demand for advanced manufacturing equipment, while retail sales growth slowed to 4.8%, down from 6.4% in May.
Experian climbs on revenue growth, housebuilders in the red
On London’s equity markets, Experian climbed 4.28% after reporting a 12% rise in first-quarter revenue, driven by 10% growth in North America, which contributes over two-thirds of group revenue.
IntegraFin Holdings surged 13.25% as its Transact platform delivered net inflows of over £1.2 billion for a second consecutive quarter, up 84% year-on-year.
Trustpilot Group rose 7.44% after upgrading its full-year margin guidance, while Genus gained 7.83% following a strong trading update and an uplift in its full-year profit forecast to £72m.
Hilton Food Group added 3.08% after agreeing to sell a majority stake in its Foods Connected platform for £22m in cash.
On the downside, Barratt Redrow dropped 9.41% after warning that annual completions and profits would decline amid fragile homebuyer confidence and a £98m hit from new safety charges.
The warning dragged down peers, with Taylor Wimpey losing 2.47%, Persimmon down 2.18%, Bellway off 1.39%, Berkeley Group easing 0.22%, and Vistry slipping 0.34%.
B&M European Value Retail sank 9.08% after missing first-quarter expectations.
Currys reversed gains to close 1.2% lower, despite a positive broker note from Citi.
ConvaTec Group dipped 0.34% after a US draft proposal threatened to cut reimbursement for certain wound care products, potentially hitting group revenue by up to 2% in the 2026 financial year.
Reporting by Josh White for Sharecast.com.
Market Movers
FTSE 100 (UKX) 8,938.32 -0.66%
FTSE 250 (MCX) 21,690.46 -0.16%
techMARK (TASX) 5,163.23 -0.37%