FTSE 100 flat as energy gains offset pharma drag; Xi visit, Middle East in focus

London's FTSE 100 was little changed on Wednesday as rebounding oil prices above $100 a barrel revived inflation worries and lifted global bond yields, while investors monitored Middle East tensions and a US visit by Chinese President Xi Jinping. The blue-chip index held at 10,705.26 points, while the midcap FTSE 250 fell 0.7%, its steepest one-day drop in nearly two weeks. Energy stocks climbed 2.2% with BP and Shell rising, but pharma shares dragged, with AstraZeneca and GSK declining. The 10-year US Treasury yield hit 5.083%, its highest since 2007, and the British gilt yield rose to 5.353%. JD Sports fell 5.7% after a 20% profit drop, while Pollen Street jumped 12.5% on sale speculation.