The FTSE 100 traded flat on Wednesday as gains in miners offset losses in retailers and pharma stocks. Rio Tinto led the index, rising over 2%, after it advanced the timeline for shipments from its Simandou iron ore project in Guinea and reported a recovery in iron ore exports in Q2 following cyclone disruptions. The update came as Simon Trott, head of Rio's iron ore division, was named the company’s new CEO. Rio also noted that U.S. tariffs on Canadian aluminium increased costs by $300 million in H1. Other miners like Antofagasta (+1.9%) and Fresnillo (+1.2%) rose on stronger iron ore and gold prices. Oil majors Shell and BP edged higher as well. In contrast, B&M shares extended Tuesday’s losses, down 2.5%, and Barratt slipped 1.6% after both stocks slumped following weak updates. AstraZeneca dropped over 1% after its AL amyloidosis drug failed a key trial. Meanwhile, UK inflation came in at 3.6% in June, above forecasts, raising concerns over interest rate expectations.