FTSE 100 Edges Higher; Magnum Ice Cream Rises Again
(RTTNews) - U.K. stocks turned in a mixed performance Thursday morning, with investors digesting the Federal Reserve's interest rate decision and Fed Chair Jerome Powell's post meet remarks, and reacting to Oracle's results.
The Fed lowered interest rate by 25 basis points, as widely expected, on Wednesday.
At a news conference following the decision, Fed Chair Jerome Powell said the Fed would have to "wait and see" before making its next move, adding a rate hike isn't in the base case.
Fed members suggested just one further cut in their 2026 central projection, but traders bet risks are skewed towards more cuts.
The benchmark FTSE 100 was up 17.50 points or 0.18% at 9,673.03 a little over half an hour before noon.
The Magnum Ice Cream Company gained nearly 6%, extending recent upmove. Ashtead Group surged 3.75%, while Convatec Group and Berkeley Group Holdings climbed 2.6% and 2.3%, respectively.
Weir Group, Sainsbury (J), Pearson, Diageo, Whitbread, Metlen Energy & Metals, Rentokil Initial, JD Sports Fashion, Mondi and AstraZeneca gained 1.3 to 2%.
Entain shed about 3.6%. Associated British Foods, Informa and Smith & Nephew lost 1.9%, 1.6% and 1.1%, respectively. Relx, Lloyds Banking Group, Natwest, National Grid, The Sage Group, Admiral Group and Severn Trent drifted lower by 0.5 to 1%.
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