UK inflation data for May showed a return to the Bank of England's (BoE) target of 2% for the first time in nearly three years, down from 2.3% in April. This easing is attributed to lower household energy bills. However, underlying price pressures, particularly in wage growth and the service sector, remain strong, with service sector inflation at 5.5% in May. This suggests that the BoE may delay any interest rate cuts despite the headline inflation figure.

The FTSE 100 opened slightly lower, down 0.07%, and continued to wobble, falling 0.2% by mid-morning. Investors are cautious, balancing the positive headline inflation data against persistent underlying inflation pressures. The BoE's interest rate decision on Thursday is highly anticipated, with no change expected from the current 5.25%.

With U.S. markets closed for a public holiday, today's session should remain calm.

Among stocks, Games Workshop Group saw a significant rise of 9% today. The increase is attributed to strong earnings reports and positive market sentiment towards the company's future growth prospects. Investors are optimistic about the company's ability to continue capitalizing on its niche market of miniature wargames, which has shown resilience even during economic downturns.

The Berkeley Group saw its shares fall by 4.1%. Despite raising its profit guidance for the current financial year, the company cautioned that UK planning restrictions could hinder future growth. This mixed outlook has led to investor uncertainty, resulting in a drop in the stock price.

Vodafone's stock gained 1% after the company confirmed it had sold an 18% stake in India's Indus Towers for 1.7 billion euros. The proceeds from the sale will be used to repay lenders, which has been positively received by investors, boosting the stock.

Barclays' stock was slightly down after the bank announced plans to cut about 100 million pounds of annual costs from its UK corporate banking business by 2026. While cost-cutting measures are generally positive, the market is concerned about the broader implications for the bank's growth strategy.

Brent Crude and WTI Crude dropped slightly due to concerns over global demand and a surprise build in U.S. crude stocks, which has put downward pressure on oil prices.

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