尽管英国30年期债券收益率进一步上升，但伦敦富时100指数周三在开局持平后重新获得动力，从4月以来最大的单日跌幅反弹。总部位于墨西哥的银矿商Fresnillo领涨，因贵金属价格走强上涨近6%，而铜矿商Antofagasta上涨2.7%，嘉能可上涨2.3%。然而，尽管摩根士丹利上调了对英国石油公司的展望，但英国石油公司股价扭转了早盘涨幅，接近持平线。在公司业绩方面，Sunbelt工厂租赁公司Ashtead上涨1.7%，此前其第一季度业绩重申了全年租金收入增长高达4%的预期。与此同时，资产管理公司M&G股价下跌超过1%，尽管其报告称，开放业务净流量为21亿英镑，半年调整后利润有所改善。高盛下调目标股价后，培生集团跌至富时100指数底部。

London’s FTSE 100 regained momentum on Wednesday following a flat start, bouncing back from its largest one-day decline since April, despite a further rise in the UK’s 30-year bond yield. Mexico-based silver miner Fresnillo led gains, climbing nearly 6% on stronger precious metal prices, while copper miner Antofagasta rose 2.7% and Glencore added 2.3%. BP shares, however, reversed early gains and traded near the flat line, even after Morgan Stanley upgraded its outlook on the oil major. On the corporate results front, Sunbelt plant hire company Ashtead rose 1.7% after its Q1 results reaffirmed full-year rental revenue growth guidance of up to 4%. Meanwhile, asset manager M&G fell more than 1% despite reporting £2.1 billion in net flows from open business and improved half-year adjusted profits. Pearson slumped to the bottom of the FTSE 100 after Goldman Sachs lowered its price target.

标准普尔全球英国服务业采购经理人指数从初步估计的53.6上调至2025年8月的54.2，高于7月的51.8。这是自2024年4月以来最强劲的读数，反映出在2025年第二季度相对疲软的扩张之后，整个行业的产出增长稳健。此外，在国内和国际需求强劲的推动下，新业务反弹至2024年9月以来的最快速度。然而，该行业的就业水平继续下降，将目前的劳动力削减延长至连续11个月，这是自2008-2010年经济衰退以来疫情期间最长的一次。在通胀方面，投入价格大幅上涨，8月份达到三个月高点，而产出费用攀升至4月份以来的最高水平。展望未来，商业情绪明显改善，49%的受访者预计明年的活动会增加，高于7月份的44%，而只有14%的受访者预计会下降。

The S&P Global UK Services PMI was revised upward to 54.2 in August 2025 from a preliminary estimate of 53.6, accelerating from 51.8 in July. This marked the strongest reading since April 2024, reflecting solid output growth across the sector after a relatively subdued expansion in Q2 2025. In addition, new business rebounded to its fastest pace since September 2024, driven by stronger domestic and international demand. However, employment levels in the sector continued to decline, extending the current run of workforce reductions to eleven consecutive months — the longest stretch outside the pandemic period since the 2008–2010 downturn. On the inflation front, input prices rose sharply, reaching a three-month high in August, while output charges climbed to its highest level since April. Looking ahead, business sentiment improved notably, with 49% of respondents expecting higher activity over the next year, up from 44% in July, while only 14% anticipate a decline.

英国10年期国债收益率升至4.8%，为1月以来的最高点，而30年期国债借贷成本创下27年新高，突显出持续的财政担忧。所有人的目光都集中在即将到来的秋季预算上，财政部长雷切尔·里夫斯面临着宣布增税或削减开支以实现财政目标的压力——这些决定可能会使刺激经济增长的努力复杂化。市场也在密切关注财政委员会对英格兰银行官员的询问，以获取有关未来降息时间或央行量化紧缩计划潜在变化的任何新信息。

The yield on the UK's 10-year gilt rose to 4.8%, its highest point since January, while 30-year borrowing costs set a new 27-year record high, highlighting persistent fiscal concerns. All eyes are now on the upcoming Autumn Budget, where Finance Minister Rachel Reeves is under pressure to announce tax hikes or spending cuts to meet fiscal targets—decisions that could complicate efforts to stimulate economic growth. Markets are also closely monitoring the Treasury Committee's questioning of Bank of England officials for any new information regarding the timing of future interest rate cuts or potential changes to the central bank’s quantitative tightening program.

英国标准普尔全球综合采购经理人指数从7月份的51.5微升至2025年8月的53.5，而最初估计为53.0。这标志着连续第四个月的增长，也是自2024年8月以来最快的增长速度。这一扩张主要是由服务业推动的（7月份为54.2比51.8），服务业升至16个月高点，抵消了制造业的急剧收缩（47比48）。新订单的增加支撑了更快的产出增长，这是过去三个月的第二次增长，也是自2024年10月以来最强劲的增长。然而，尽管公司报告称商业活动预期有所改善，但裁员现象仍在持续。几家公司表示，由于闲置产能和工资成本上升带来的利润压力，招聘冻结。

The UK S&P Global Composite PMI was revised slightly higher to 53.5 in August 2025 from an initial estimate of 53.0, up from 51.5 in July. This marked the fourth consecutive month of growth and at the quickest pace since August 2024. The expansion was largely driven by the services sector (54.2 vs 51.8 in July), which rose to a sixteen-month high, offsetting a sharper contraction in the manufacturing sector (47 vs 48). Faster output growth was supported by a rise in new orders — the second increase in the past three months and the strongest since October 2024. However, job shedding persisted, even as firms reported improved business activity expectations. Several companies cited hiring freezes due to spare capacity and margin pressures from rising payroll costs.