标准普尔全球英国建筑业采购经理人指数从6月份的48.8降至2025年7月的44.3，这是自2020年5月以来最大的收缩。这一下降标志着第三季度初的大幅下滑，这是由于所有关键行业，特别是土木工程和住宅建筑行业的大幅下滑造成的。受访者普遍认为需求疲软、网站延迟和新业务量减少，近29%的受访者表示活动减少。商业建筑也有所下降，但速度较慢。新订单连续第七个月下降，公司注意到投标机会减少，客户信心减弱。对未来一年的预期略有改善，但仍然保持沉默。投入采购下降，供应延迟六个月来首次重新出现。成本上涨，尽管是自1月以来最慢的速度。随着公司减少招聘和分包商的使用，就业人数继续减少。尽管如此，分包商的费率仍然很高。

The S&P Global UK Construction PMI fell to 44.3 in July 2025 from 48.8 in June, marking the steepest contraction in activity since May 2020. The decline signals a significant slump at the start of Q3, driven by sharp drops across all key sectors, particularly in civil engineering and residential building. Weaker demand, site delays, and reduced new business volumes were widely cited by survey respondents, with nearly 29% reporting lower activity. Commercial construction also fell, though at a softer pace. New orders declined for the seventh straight month, with firms noting fewer tender opportunities and weaker client confidence. Expectations for the year ahead improved slightly but remain muted. Input purchases dropped, and supply delays resurfaced for the first time in six months. Costs rose, albeit at the slowest pace since January. Employment continued to shrink, as firms cut back on hiring and subcontractor use. Still, subcontractor rates remained elevated.

富时100指数周三小幅上涨，但落后于其他欧洲市场，因为几只主要股票拖累了该指数。嘉能可股价下跌超过3.5%，此前该公司排除了在美国上市的可能性，表示不会增加价值，并因煤炭价格下跌和运营问题导致铜产量下降而未达到上半年盈利预期。分析师指出，债务不断上升，股东回报空间有限。Legal&General也下跌了3%以上，尽管其利润处于指导的顶端。资产管理业绩疲软和偿付能力比率低于预期，掩盖了退休和零售业的强劲业绩。与此同时，可口可乐HBC暴跌超过7%。HBC超出预期，但分析师认为这一结果是由外汇损失减少而非核心力量推动的。

The FTSE 100 rose modestly on Wednesday but lagged behind other European markets as several major stocks weighed on the index. Glencore fell over 3.5% after it ruled out a US listing, saying it wouldn’t add value, and missed H1 earnings estimates due to weaker coal prices and lower copper output from operational issues. Analysts flagged rising debt and limited room for shareholder returns. Legal & General also slipped over 3% despite posting profits at the top end of guidance. Strong results in retirement and retail were overshadowed by weaker asset management performance and a lower-than-expected solvency ratio. Meanwhile, Coca-Cola HBC plunged more than 7%. HBC beat expectations, but analysts saw the result as driven by reduced FX losses, not core strength.

活动指南：英国央行货币政策声明（2025年8月）。市场对英国央行本周降息的预期很高，那么他们会兑现吗？以下是交易8月份英国央行决定时需要注意的事项。

Event Guide: BOE Monetary Policy Statement (August 2025).Market expectations are running high for the U.K. central bank to cut interest rates this week, so will they deliver? Here's what to look out for when trading the August BOE decision.

智库称，英国里夫斯在今年的预算中面临“不可能”的选择。一家领先的智库周三表示，英国财政大臣雷切尔·里夫斯面临着一个“不可能的三难困境”，即大幅增税、削减开支或改变她所说的不可谈判的财政规则。

UK's Reeves heading for 'impossible' choices in this year's budget, think tank says.British finance minister Rachel Reeves faces an "impossible trilemma" of big tax hikes, spending cuts or a change to fiscal rules that she has said are non-negotiable, a leading think tank said on Wednesday.