FTSE 100

Key insight

10,800 acts as key battleground — FTSE stalled just below the 52-week high of 10,910 as BoE rate decision and sticky UK inflation offset commodity tailwinds from oil majors and miners.

Holds 10,798 near the 52-week high of 10,910 but capped by Fed hike to 3.75-4% and BoE decision risk; oil at $97 off $107 peak cushions inflation fears.

Main risk

Bank of England Rate Decision

BoE meeting imminent — hawkish surprise above current 3.75-4% range could spike gilt yields and pressure rate-sensitive UK domestics hard.