FTSE 100 Stalls Ahead of Inflation Data Amid Middle East Tensions

The FTSE 100 index remained steady on Wednesday morning as investors waited for US inflation data to be released later in the session. The ongoing conflict in the Middle East is keeping oil prices high, which is also affecting investor enthusiasm for stocks.

Brent Crude was trading at $88.91 at the time of writing, while US futures were higher after a rally in the tech sector sparked by AI infrastructure company CoreWeave.

However, this optimism did not translate to London's leading index, which traded down 6 points at 10,837. Russ Mould, investment director at AJ Bell, noted that European stock markets are 'in a holding pattern' as investors digest the latest events in the Middle East.

The conflict has led to renewed attacks on shipping, which has put oil back on an upward path and muddied the waters regarding inflation expectations and interest rates. The Federal Reserve will be closely watching events alongside data later today on US consumer prices, which are expected to have edged up slightly in July.