Summary · why it matters
The FTSE 100 drifted lower on Wednesday, shedding 31.43 points or 0.3% to 10,497.96 by midday, as escalating Middle East tensions and slower-than-expected Chinese GDP growth weighed on sentiment. China's economy expanded 4.3% in the second quarter, its slowest pace in about three years, dragging mining stocks lower with Fresnillo down 3%, Antofagasta losing 2.1%, and Endeavour Mining off 2%. Other notable decliners included Vodafone Group, which fell 2.3%, and BT Group, which slipped nearly 2%, while Unilever, Convatec Group, Coca-Cola HBC, Haleon, IAG, Scottish Mortgage, Associated British Foods, Airtel Africa, Reckitt Benckiser, BAE Systems, and Croda International lost between 1% and 1.6%. On the upside, ICG climbed 3%, Barratt Redrow gained about 2.5%, and Imperial Brands, Burberry Group, Persimmon, St. James's Place, and Natwest Group rose 1% to 1.8%.