Fed announcement lifts FTSE

clock

In London, the FTSE 100 made a strong start to the day after news that the US Fed might cut interest rates and was up 53.9 points, or 0.89%, to 6,140.

Lonmin led the pack with a gain of 123 points, or 4.15%, to £30.86, followed by Antofagasta shares, which were up 25 points, or 3.82%, to 679p. Man Group, the hedge fund manager, was also boosted by interest rate speculation, up 17.5 points, or 3.82%, to 475.5p. Northern Rock shares raised 25.5 points, or 3.63%, to 727.5p and Invesco shares added 20.5 points, or 3.52%, to 602.5p. Early gains were offset by some losses, including DSG International, down 4.8 points, or 3%, to 155.2p. BT shares fell by 9 points, or 2.88%, to 303p and Scottish & Southern Energy shares dropped 29 points, or...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read