FTSE 100 edges lower as healthcare, energy stocks weigh; Iran-Oman talks in focus

Aug 26 (Reuters) – London’s FTSE 100 edged lower on Wednesday as healthcare and energy stocks weighed on sentiment, while investors also assessed U.S. inflation data and waited for Nvidia’s quarterly earnings.

The blue-chip FTSE 100 index declined 0.07% to 10,878.12 points, retreating after six straight sessions of gains, while the midcap FTSE 250 rose 0.17%.

• U.S. inflation data was largely in line with expectations, modestly increasing bets on a Federal Reserve interest-rate hike next month.

• A senior Iranian official said Iran and Oman were working on details of an agreement over the Strait of Hormuz.

• Energy shares slipped 0.67%, tracking oil prices that inched 0.08% lower.

• Healthcare shares also weighed, slipping 1.18%.

• British retail sales weakened in August after their strongest performance in six months in July

• Consumer stocks British American Tobacco, Imperial Brands and Unilever were higher, offering support to the main index.

• Software stocks declined, led by a 3.76% fall in Sage Group. Experian and Relx were down between 1.22% and 1.4%.

• Investors were waiting for Nvidia’s second-quarter earnings later in the day to gauge whether the AI-driven spending boom can continue supporting lofty market valuations.

• Among mid caps, miner Hochschild Mining climbed 5.4% after first-half revenue rose 62% from a year ago, making it one of the FTSE 250’s top gainers.

(Reporting by Anand Gopal in Bengaluru; Editing by Diti Pujara, Kirsten Donovan)