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FTSE 100 Lags Behind European Peers
(RTTNews) - FTSE 100 of the London Stock Exchange edged higher, trailing its European peers, as world markets eagerly wait for the outcome of the Federal Open Market Committee's two-day meeting. FTSE rallied modestly amidst hopes of a pause by the Fed as well as upbeat corporate earnings.
FTSE 100 oscillated between 7,777.36 and 7,819.12 versus the previous day's closing level of 7,773.03.
The benchmark index of the London Stock Exchange is currently trading at 7,792.20, up 0.25 percent on an overnight basis.
In the 100-scrip index, only 26 are trading in the overnight red zone.
Pearson gained 8.5 percent. Burberry Group and Coca Cola HBC, have both added more than 2 percent.
Lloyds Banking Group declined more than 4 percent, followed by Haleon and International Consolidated Airlines that both shed more than 3 percent.
Optimism surrounding the Fed signaling a pause in its aggressive rate hikes dragged the Dollar Index 0.37 percent to 101.58, lifting the GBP/USD pair 0.30 percent to 1.2502.
Stubborn double-digit inflation and rate hike expectations from the Bank of England however reflected in yields on U.K.'s ten-year bonds rising 0.25 percent to 3.6770% from the previous close of 3.668%.
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