The FTSE 100 closed slightly lower on Wednesday after the OECD warned that UK economic growth will slow in 2026. Strong corporate updates from ICG and Barratt Redrow cushioned the fall, while Antofagasta dragged on the index.
London's FTSE 100 fell 0.17% at Wednesday's close as investors weighed a fresh OECD report ahead of the monthly gross domestic product print due the next day.
The OECD projects UK growth slowing to 0.9% in 2026 from 1.4% in 2025, before recovering to 1.1% in 2027. It expects annual headline inflation to rise to 3.7% this year, then ease to 2.4% in 2027. The organization said stronger productivity growth, fiscal discipline and structural reforms would be needed to raise living standards.
Intermediate Capital Group led the blue-chip index, rising 4.75% after reporting fee-earning assets under management of $88.18 billion as of June 30, up from $86.52 billion on April 1. Housebuilder Barratt Redrow gained 4.28% as adjusted pretax profit for the 52 weeks to June 28 matched market expectations, and it launched a buyback of up to 386 million pounds sterling.
Miner Antofagasta weighed on the other side, losing 2.52% after interim copper output fell to 285,000 tonnes from 314,900 tonnes. The company kept its full-year copper guidance at 650,000 to 700,000 tonnes.
Geopolitical tension stayed in focus after the US launched fresh strikes on Iranian military sites following the reimposition of a naval blockade on Iranian ports. Tehran responded with attacks on US military facilities in Bahrain, Kuwait and Jordan and threatened to disrupt more regional energy export routes, keeping investors wary of the potential impact on global oil supplies and inflation.
Source: Yahoo Finance UK
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