[REVISION HISTORY]
UK market climbs as BoE holds rates amid geopolitical tense
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2026-07-31 02:23 UTC → 2026-07-31 06:44 UTC ·
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UK market moves climbs as BoE holds rates amid inflation data and US‑Iran talks geopolitical tense
July 21 2026 saw UK consumer‑price inflation dip to 2.6 % YoY, easing rate‑hike expectations and lifting the FTSE 100 about 1.2 % to roughly 10,700 points. By July 24, stronger domestic data – PMI 52.1, services PMI 51.8 and retail sales up 4.2 % YoY – and hopes of renewed US‑Iran talks pushed the index higher to 10,736 points. On 30 July 2026 the market continued its ascent, with the FTSE 100 reaching a new intra‑day record above 10,979 points. The Bank of England held its base rate at 3.75% (6‑3 vote), and Governor Andrew Bailey said the pause was not a signal of an imminent hike. Strong earnings from Rolls‑Royce, which reported a 46 % rise in operating profit, lifted defence‑heavy shares, while Rentokil Initial fell 21 more than 17 % after warning on US expansion costs. The same day the index closed modestly lower opened about 22 points higher at 10,930 and closed near 10,897, the pound rose to $1.3352 buoyed by a rally in technology and defence stocks, higher oil prices and a surge in defence orders linked to the Iran conflict. Brent crude edged up rose roughly 2 % to $92.67 as Middle‑East tensions kept energy and defence stocks in favour. a barrel, further supporting energy‑related equities. The series of snapshots shows market’s gains reflected a short‑term upward trajectory for UK equities, initially driven by easing inflation, reinforced by blend of solid domestic data, diplomatic optimism, and later by corporate earnings and results, a policy hold. steady UK monetary‑policy stance, and heightened geopolitical tension.
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- 2026-07-31 06:44 UTC UK market climbs as BoE holds rates amid geopolitical tense
- 2026-07-31 02:23 UTC UK market moves amid inflation data and US‑Iran talks
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