UK equities moved lower on Wednesday, mirroring declines across major European markets, while the pound continued to soften and fresh data showed inflation cooled in October—though not quite as much as economists had expected.
By 08:54 GMT, the FTSE 100 was down 0.2%, and the pound had slipped 0.2% against the US dollar to 1.31. On the continent, Germany’s DAX also lost 0.2%, while France’s CAC 40 dropped 0.6%.
UK inflation slows, but remains slightly above forecasts
Official figures released Wednesday showed annual UK inflation easing to 3.6% in October, down from 3.8% in September but marginally above the consensus estimate of 3.5%.
The reading marks the lowest level since May, though it still sits well above the Bank of England’s 2% target. The smaller-than-expected decline raises the chances the central bank will cut rates at its final policy meeting of the year next month.
FTSE 100 movers
In corporate developments, WH Smith PLC (LSE:SMWH) said CEO Carl Cowling has resigned with immediate effect following an independent Deloitte review that uncovered issues in its North American division. Cowling has also stepped down from the board.
Smiths Group PLC (LSE:SMIN) reported 3.5% organic revenue growth for the quarter to 31 October and announced a new £1 billion share buyback to be completed by the end of 2026, building on its existing £500 million programme. The initiative will return “a large portion” of proceeds from the sale of Smiths Interconnect to Molex Electronics Solutions.
Workspace Group PLC (LSE:WKP) posted underlying net rental income of £58.6 million, unchanged year over year, while trading profit after interest slipped 6.4% to £30.6 million. EPRA NTA fell 6.8% to £7.21 after a 3% like-for-like valuation drop. Occupancy declined 2.5 percentage points to 80%, with the rent roll down 3.3%.
Jet2 PLC (LSE:JET2) delivered record interim results, with group revenue rising 5% to £5.34 billion for the six months to 30 September. Operating profit increased 2% to £715.2 million, and statutory profit after tax reached £600.2 million.
Severn Trent PLC (LSE:SVT) reported a 56.5% jump in profit before interest and tax to £466.2 million for the half-year to 30 September, alongside an 18% rise in revenue to £1.44 billion. The water utility also confirmed a planned CEO transition in early 2026. Shares were down 1.2% in early trade.
British Land Company PLC (LSE:BLND) recorded an 8% rise in underlying profit to £155 million for the six months ending 30 September, with underlying EPS edging up 1% to 15.4p. The company raised its dividend by 1% to 12.32p per share.
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