09:56 — FTSE 100 slips to 10,800 as sticky US inflation offsets Nvidia lift
The FTSE 100 has extended its decline, falling to 10,800, down 78 points or 0.72%.
It tracks a broader caution running through European trade this morning, with Nvidia's blowout results landing against high expectations (and thus not especially inspiring broader bullishness), whilst more acutely investors are concerned about the hot US inflation print.
Nvidia posted quarterly revenue of $96.2 billion, more than double a year earlier, and forecast a 70% jump in revenue for the next (LSE:NXT) fiscal year, its sixteenth consecutive quarter of beating forecasts.
Saxo Markets' Neil Wilson cut through bluntly, describing US inflation as "hotter and stickier than a stalled Jubilee Line during a London summer."
With PCE inflation up 0.2% on the month and 3.7% on the year, ahead of expectations.
Wealth Club's Susannah Streeter struck a similar note, pointing to sticky inflation, large government debt piles and the prospect of interest rates staying elevated as reasons for renewed caution.
Against that backdrop, London's fallers remain led by defensives and consumer names, Croda down to 3,398p and Prudential (LSE:PRU) off to 1,020.5p, while the session's real energy is on the small-cap board.
08:21 — FTSE 100 starts lower with cautious eyes on inflation
The FTSE 100 has opened at 10834, down around 43 points.
Early attention was on Nvidia's blowout results, and what it may mean for broader investor sentiment.
In the wake of the positive numbers, the Nasdaq 100 is (in early premarket indicators) pointing up by close to 1%.
Nvidia posted quarterly revenue of $96.2 billion, more than double a year earlier, and forecast a 70% jump in revenue for its next (LSE:NXT) fiscal year, sending its shares nearly 5% higher after hours.
In London, meanwhile, the market is looking at inflation, and the caution is proving hard to shake.
Wealth Club strategist and market commentator Susannah Streeter, in a note, said sentiment is turning more cautious as investors refocus on sticky inflation, heavy government debt and the risk that interest rates stay elevated for longer.
In the market, the FTSE's early risers were led by Standard Chartered (LSE:STAN), up 1.96% to 2182p, and British American Tobacco (LSE:BATS), up 2.54% to 4238p, while Compass Group (LSE:CPG) and 3i Group (LSE:III) are among the session's early laggards, down 2.34% and 2.07% respectively.
Prudential lifted its dividend after new business profit grew 8%, while hVIVO expanded into Germany with the acquisition of CRS Berlin.
Vertu Motors (AIM:VTU) said its full-year results are now expected to beat market expectations, with chief executive Robert Forrester citing a strong five-month trading performance to end-July.
Elsewhere, Alien Metals (AIM:UFO) confirmed high-grade silver and extended mineralisation at its Elizabeth Hill project in Western Australia, and Predator Oil & Gas reported H1 2026 oil sales of 52,130 barrels generating net petroleum revenue of £1.52 million.
06:45 — FTSE 100 seen softer ahead of Thursday's open
The FTSE 100 is seen softer ahead of Thursday's open, with IG's early pre-market quote marked at 10,851, down 34 points from Wednesday's close.
It comes after Wall Street closed lower on Wednesday after a hotter-than-expected inflation print, with the Dow off 105 points to 53,472.02 and the Nasdaq Composite down 26 points to 26,125.39; the S&P 500 was essentially flat at 7,677.45.
Asia carried a similar tone, with the Nikkei 225 down 155 points, or 0.23%, to 66,106.72.
The dollar index held steady at 99.122, while gold extended its climb, up 0.44% to 4,673.9. Bitcoin eased 0.43% to 78,687.42, and Ethereum slipped 0.77% to 2,487.36.
Brent crude oil is down 0.81% at $86.24 and WTI is off 0.92% at $81.21.
In forex, Cable is little changed with GBP/USD marked at 1.3589.
