21.10.202615:52:59UTC+00FTSE 100 Edges Up on Wednesday

The FTSE 100 inched higher on Wednesday, snapping a two-day losing streak but still lagging behind other major European indices. Gains in heavyweight oil producers offered key support, with BP rising about 2%. Among financials, HSBC, Lloyds Banking Group, NatWest and Standard Chartered advanced between 0.5% and 1.1%, while Barclays dipped slightly ahead of its quarterly results due on Thursday.

Precious metals miner Fresnillo dropped more than 2% after it reaffirmed its full-year silver production guidance despite reporting lower output than a year earlier.

Investors also weighed fresh UK macroeconomic data pointing to persistent price pressures and mounting public debt. Annual consumer price inflation accelerated to 3.5% in September, overshooting the consensus forecast of 3.4% and potentially reinforcing expectations of a more hawkish stance from the Bank of England.

On the fiscal side, public sector net borrowing reached £97.8 billion in the April–September period, £6 billion above the Office for Budget Responsibility’s March projection. Borrowing in September alone stood at £24.5 billion.