British stocks opened slightly lower on Wednesday, with the FTSE 100 down 0.2% as of 07:08 GMT, while the pound remained near 1.35 USD, up 0.03%. European markets also traded in the red, with Germany’s DAX down 0.9% and France’s CAC 40 falling 0.5%.
UK Inflation Rises to 3.8% in July
UK consumer price inflation increased to 3.8% in July, above the 3.7% forecast and up from 3.6% in June. Rising energy prices, particularly fuel (improving from -9.0% to -6.7%), contributed 0.1 percentage points to the Consumer Price Index (CPI). Services inflation rose to 5.0% from 4.7%, exceeding the Bank of England’s 4.9% projection, partly due to base effects in communications and restaurants/hotels.
Ithaca Energy Boosts Production and 2025 Outlook
Ithaca Energy PLC (LSE:ITH) reported a strong first half, doubling production to 123.6 kboe/d from 53 kboe/d in H1 2024. Adjusted EBITDAX rose to over $1.1 billion, up from $533 million, while unit operating costs fell to $17.5/boe from $27.3/boe. The company upgraded its 2025 outlook, reflecting higher output and improved efficiency.
Lion Finance Posts Record H1 Profit, Increases Shareholder Returns
Lion Finance Group PLC (LSE:BGEO) declared a half-year dividend of GEL 5.10 per share and approved a GEL 98 million share buyback. Q2 profit reached GEL 513.2 million, up 19.4% year-on-year, while H1 profit rose 28.4% to GEL 1.03 billion, with return on average equity at 27.9%.
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