富时100指数周三收盘微涨，此前英国通胀率小幅降至3.4%，投资者关注中东紧张局势，并等待英格兰银行周四的利率决定。博柏利提振了市场情绪，其好于预期的销售业绩提振了人们对成功扭亏为盈的希望，推高了其股价。与此同时，围绕TSB的并购猜测引起了人们的关注，据报道，NatWest和Santander表示有兴趣。然而，其他地区的盈利疲软限制了涨幅。信用数据公司益百利在其增长前景低于预期后下跌至2.6%，而帝国品牌在其首席执行官突然离职后暴跌8.3%，为2020年5月以来的最大跌幅。

The FTSE 100 closed slightly higher on Wednesday as investors eyed Middle East tensions and awaited the Bank of England’s rate decision on Thursday, following a slight dip in UK inflation to 3.4%. Sentiment was lifted by Burberry, whose better-than-expected sales results boosted hopes for a successful turnaround, sending its shares higher. Meanwhile, M&A speculation around TSB drew attention, with NatWest and Santander reportedly expressing interest. However, gains were capped by weaker earnings elsewhere. Credit data firm Experian fell up to 2.6% after its growth outlook missed expectations, while Imperial Brands plunged as much as 8.3%, the most since May 2020, after its CEO's sudden departure.

英国10年期国债收益率在5月份通胀率为3.4%后稳定在4.551%，仍远高于英格兰银行2%的目标。这些数据几乎没有改变市场预期，交易员仍预计2025年剩余时间将降息约48个基点，大约降息25个基点。市场继续认为英国央行周四的会议上没有降息的机会。顽固的通货膨胀数据强化了货币政策在短期内将保持紧缩的观点。与此同时，由于以色列和伊朗之间的紧张局势不断升级，全球投资者情绪仍然谨慎。

The UK 10-year gilt yield held steady at 4.551% after May inflation came in at 3.4%, still well above the Bank of England’s 2% target. The data did little to shift market expectations, with traders still pricing in around 48 basis points of rate cuts for the rest of 2025, roughly two quarter-point reductions. Markets continue to see no chance of a rate cut at the BOE’s Thursday meeting. The stubborn inflation figures reinforce the view that monetary policy will remain tight in the near term. Meanwhile, global investor sentiment remains cautious due to escalating tensions between Israel and Iran.

英镑小幅接近1.35美元，仍接近2022年以来的最高水平，继续受益于美元的广泛疲软和英国最新通胀数据的支持，该数据显示价格压力仍然较高。5月份的年通货膨胀率为3.4%，符合预期，略低于4月份的3.5%。值得注意的是，如果不是车辆消费税系列计算错误，4月份的数字也会是3.4%。这些数据强化了市场的预期，即英格兰银行将在周四即将召开的会议上保持利率不变，同时仍为8月份降息25个基点敞开大门。

The British pound edged closer to $1.35, remaining near its highest levels since 2022, continuing to benefit from broad-based US dollar weakness and support from the latest UK inflation data, which showed that price pressures remain elevated. The annual inflation rate came in at 3.4% in May, in line with expectations and just below April’s 3.5%. Notably, the April figure would have been 3.4% as well, had it not been for a miscalculation in the Vehicle Excise Duty series. The data reinforced market expectations that the Bank of England will keep interest rates unchanged at its upcoming meeting Thursday, while still leaving the door open for a 25 basis point cut in August.

英国通胀率远高于英格兰银行2%的目标后，富时100指数周三上涨，从周二0.5%的跌幅中恢复过来。英国5月份的年通胀率达到3.4%，符合预期，但这并没有改变市场对英格兰银行降息的预期。交易员继续在年底前对两次降息进行定价，预计明天的会议不会有任何变化。Ocado股价上涨超过4%，此前有消息称，该公司在西班牙建立了一个新的客户履行中心，扩大了与连锁超市Bon Preu的技术合作关系。这些技术许可协议是Ocado估值的关键，超过了其零售业绩。与此同时，通胀率上升对住宅建筑行业造成压力，富时350指数下跌约0.5%。相关供应商，如Howden Joinery，也出现了小幅下跌，反映出人们担心通货膨胀加剧可能会对住房需求造成压力或推迟利率下调。

The FTSE 100 traded higher on Wednesday, recovering from Tuesday’s 0.5% drop, after UK inflation came in well above the Bank of England’s 2% target. The UK’s annual inflation rate hit 3.4% in May, in line with expectations, but it did little to shift market expectations for Bank of England rate cuts. Traders continue to price in two rate reductions by year-end, with no change expected at tomorrow’s meeting. Ocado shares climbed over 4% following news of a new customer fulfilment centre in Spain, expanding its tech partnership with supermarket chain Bon Preu. These tech-licensing deals are key to Ocado’s valuation, outweighing its retail sales performance. Meanwhile, the higher inflation reading weighed on the homebuilding sector, with the FTSE 350 housebuilding index down about 0.5%. Related suppliers, such as Howden Joinery, also saw modest declines, reflecting concerns that elevated inflation could pressure housing demand or delay rate relief.