London Stocks Flat After Yesterday's Selloff

London’s FTSE 100 remained largely unchanged on Wednesday, holding at the 9,110 mark. This stabilization followed a sharp 0.9% fall in the previous session—its most significant one-day decline since April—fueled by a global selloff in bond markets across Europe and the US, which was driven by growing fears over rising government debt and the potential for inflationary fallout. Yields on 30-year gilts in the UK hit their highest level since May 1998, increasing pressure on Chancellor Rachel Reeves ahead of the November budget. On the corporate news, fund manager and insurer M&G slumped more than 3% after reporting a small rise in profit and assets under management for the first half, while equipment rental company Ashtead gained about 1% as it posted a largely in-line set of earnings for its first quarter and raised its free cash flow guidance for the year.