FTSE 100 Edges Higher On Fed Rate Optimism
(RTTNews) - U.K. stocks rose slightly on Thursday as Fed Chair Jerome Powell's dovish remarks on the pace of rate hikes offset disappointing house price data.
According to Nationwide, British house prices tumbled 1.4 percent in November compared with October, marking the biggest monthly drop since June 2020.
The benchmark FTSE 100 edged up 16 points, or 0.2 percent, to 7,589 after closing 0.8 percent higher on Wednesday.
Energy stocks fell as oil prices dipped amid uncertainty about OPEC's decision on production at the Sunday meeting. BP Plc dropped 1 percent and Shell lost 1.4 percent.
Lender HSBC declined 1.2 percent after it agreed to sell its business in Canada to Royal Bank of Canada.
Online grocer Ocado jumped almost 7 percent after launching a new supplier insights product to help drive sales and increase revenue.
Components maker Essentra rose over 2 percent after buying Wixroyd Group, a supplier of industrial parts for the engineering sector.
TSX Rises Over 1%; Materials, Energy Stocks Move Up Sharply
U.S. Service Sector Activity Returns To Expansion In October
U.S. Private Sector Employment Rebounds More Than Expected In October
U.S. Private Sector Adds 42,000 Jobs In October, More Than Expected
Higher Commodity Prices, Bargain Hunting May Lift Canadian Stocks At Open
Wall Street May Open With Slightly Negative Bias
FTSE 100 Recovers After Weak Start, Up Marginally At Noon
