FTSE 100 Edges Higher Amid Oil Price Hikes

London stocks continued their positive trend at midday on Wednesday, but retreated from earlier highs as oil prices ticked up and investors awaited a key US inflation reading.

The FTSE 100 index rose 0.1% to 10,651.67, while Brent crude increased 0.7% to $103.30 a barrel and West Texas Intermediate climbed 1% to $90.28.

Dan Coatsworth, head of markets at AJ Bell, noted that a test of investors' improved sentiment will come later with the release of US Core PCE price index data and growth figures.

The UK economy grew faster than expected in the second quarter, according to new data from the Office for National Statistics, which showed a 0.5% expansion in April to June.