London Markets Dip Ahead of US Inflation Data and Nvidia Results

The London markets nudged lower by midday on Wednesday as investors looked to key US inflation data and quarterly results from Nvidia.

The FTSE 100 was down 0.1% at 10,870.49, while Brent crude fell 2.7% to $86.15 a barrel and West Texas Intermediate dropped 2.4% to $80.38.

Richard Hunter, head of markets at Interactive Investor, noted the markets were in a 'holding pattern' ahead of pivotal data releases.

The Personal Consumption Expenditures index, the Federal Reserve's preferred measure of inflation, is due out at 1330 BST, with expectations that headline inflation will have risen to 3.6% and core inflation to 3.2% in July.