World shares struggle

World shares struggled and oil prices fell on Wednesday as the UK's highest inflation since 1982 and a rate hike in New Zealand reminded investors of the challenges facing the global economy, reports Reuters.
MSCI's benchmark for global stocks came off initial highs and by 1055 GMT it was barely changed, signalling that a bounce started in July was running out of steam. European shares fell 0.3 per cent, while the MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 per cent, off earlier highs.
Wall Street looked set for a weaker start, with S&P 500 futures down 0.7 per cent after strong gains on Tuesday following stronger-than-expected results from Walmart and Home Depot which bolstered optimistic views on the health of consumers.
But a bigger than expected jump in British consumer price inflation to 10.1 per cent in July highlighted growing pressures on households and helped cement expectations of another 50 basis point (bps) rate hike at the Bank of England's next meeting.