FTSE 100 Flat as Iran Tensions Weigh on Global Stocks

Global stocks were largely flat on Wednesday as tensions in the Iran conflict and signs of slowing UK growth weighed on markets.

The FTSE 100 index in Britain closed with a mere 0.02% gain, while Germany's DAX fell 0.6% and France's CAC lost 0.4%.

Meanwhile, sterling weakened against the dollar, dipping by 0.7% to $1.3249.

The UK Services PMI slipped to a three-month low of 51.7 in September from 52.5, with services firms citing higher energy costs tied to the Iran conflict as a major contributor to price increases.

Chris Williamson, S&P Global's chief business economist, warned that September is seeing a 'worrying combination' of sluggish economic growth and intensifying inflationary pressures.