FTSE 100 set to dip as US inflation data weighs on markets

London's FTSE 100 is expected to open around 40 points lower on Thursday after stronger-than-expected US inflation raised concerns about prolonged high interest rates. The blue-chip index closed Wednesday down 8 points, ending a six-session winning streak. US personal consumption expenditure inflation held at 3.7% in July, above the 3.6% forecast, pushing the 2-year Treasury yield toward 4.22% and strengthening expectations of another Federal Reserve rate increase. Wall Street finished modestly lower, while Nvidia reported quarterly revenue of $96.2 billion, up 106% year-on-year, though its shares dipped in after-hours trading. Prudential reported a 9% rise in adjusted operating profit to $1.81 billion and added around $300 million to its share buyback. Asian markets were mixed, with South Korea's Kospi rising about 1.5% on Nvidia's results, while gold traded near $4,610 an ounce and Brent crude remained lower at around $87.35 a barrel.