FTSE 100 Live: London faces lower return as inflation and oil bite

The FTSE 100 is expected to reopen lower on Tuesday after the UK bank-holiday break, with investors returning to higher oil prices, renewed inflation worries and a softer global equity backdrop. September futures were indicated around 10,794, about 30 points down from Friday’s cash close of 10,824.26. UK shop-price inflation hit a two-year high, with the BRC-NIQ Shop Price Monitor showing annual inflation of 1.5% in August, up from 0.9% in July. Food inflation rose to 2.8%, while non-food reached 0.9%. Brent rose 0.5% to $90.94 a barrel and West Texas Intermediate gained 0.8% to $86.41. Wall Street closed lower amid US-Iran tensions; Asia traded mostly subdued. Market watchers also await domestic data and a FTSE Russell quarterly index-review snapshot.