London, Jan 13, 2026, 10:59 GMT — Regular session
London shares held steady near all-time highs on Tuesday, supported by gains in energy stocks ahead of U.S. inflation figures. The FTSE 100 stayed flat at 10,140.78 points as of 1006 GMT, while the FTSE 250 slipped 0.22%.
The U.S. consumer price index report due later today could shift expectations on the pace of Federal Reserve rate cuts—something that’s been shaping moves in stocks and currencies. Economists forecast headline CPI rising 0.3% in December and 2.7% year-over-year, following distortions caused by the recent government shutdown.
The rate question comes as markets push into new highs, showing little tolerance for surprises. Global stocks were mixed early Tuesday, with Tokyo hitting a record high while traders held their ground ahead of the U.S. data.
Oil prices stayed supported beneath London’s dominant energy sector. Brent crude climbed 22 cents to $64.09 a barrel Tuesday, fueled by concerns over supply disruptions linked to Iran and Venezuela’s export uncertainties.
Mining stocks pulled back slightly after the strong surge seen the previous day, driven by a rush into gold amid intensified criticism of Federal Reserve Chair Jerome Powell from Washington. Gold prices climbed to a new peak above $4,600 an ounce. The FTSE 100 ended Monday up 0.16%.
UK rate expectations remained in focus. A Citi/YouGov survey revealed the public’s one-year inflation expectation dipped to 3.6% in December, marking its lowest point since January 2025. Citi noted it anticipates this trend “to continue to soften” alongside falling realised inflation. Reuters
Whitbread shares jumped about 4% after the Premier Inn operator reported third-quarter group sales up 2% to £781 million. The company now anticipates a £35 million annual impact from higher business rates, less than previously forecast. CEO Dominic Paul described the proposed changes as “damaging for the overall sector.” Bernstein analyst Richard Clarke weighed in, calling it “a strong result” in the short term. Reuters
Raspberry Pi tumbled after flagging a spike in DRAM (memory-chip) prices that has muddied its 2026 forecast. The company’s trading update pointed to a sharp rise in LPDDR4 costs as suppliers shift capacity toward AI data centres. It also warned that “visibility beyond H1 2026 is limited.” Still, Raspberry Pi expects an adjusted EBITDA of at least $45 million for FY2025 and plans to release results on March 31. Investegate
Diageo climbed roughly 1% following a Bloomberg report that the company is exploring options for its China assets, potentially including a sale. Reuters added that Diageo declined to comment but has brought in Goldman Sachs and UBS to conduct the review.
The calm tape could shatter quickly. A hotter U.S. CPI print might drive bond yields up, putting pressure on rate-sensitive sectors such as property and consumer stocks. At the same time, any softening in Iran headlines could challenge the recent boost in oil prices.
Traders will turn to the U.S. CPI data set for 08:30 a.m. ET (13:30 GMT). Across the pond, Britain’s Office for National Statistics is due to release its November GDP estimate at 07:00 GMT on Thursday, Jan. 15, along with trade and production figures.
