FTSE 100 hovers near two-month high; Abrdn drops on earnings miss

UK's FTSE 100 was pinned near two-month peak on Tuesday, as investors awaited U.S. inflation data to gauge the pace of interest rate hikes, while shares in Abrdn fell after the asset manager posted lacklustre half-yearly numbers.

The blue-chip index (UK100) was flat after closing at its strongest level since June 9 on Monday.

Global markets traded in a tight range ahead of key data due on Wednesday, with investors waiting to see if the U.S. Federal Reserve might dial down in its fight against inflation and provide a better footing for the economy to grow.

The midcap index (.FTMC) crept 0.1% higher.

Shares of Abrdn (T3V2) fell 4.6% after the company reported a lower-than-expected profit, pressured by global market turbulence amid geopolitical tensions and broadening inflationary pressures.

Office space provider IWG (IWG) tumbled 11.9% after disappointing first-half results due to inflationary woes and COVID-related restrictions in certain markets.

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