FTSE 100 Advances After Recent Weakness
(RTTNews) - After three successive days of declines, U.K.'s FTSE 100 moved higher on Wednesday with select stocks finding good support. The mood was cautious with investors awaiting the Federal Reserve's monetary policy announcement due later in the day.
The U.S. Central Bank is widely expected to lower interest rate by 25 basis points. The bank's accompanying statement and Fed Chair Jerome Powell's comments are eyed for clues about future interest rate stance.
The FTSE 100 was up 27.39 points or 0.29% at 9,669.40 a few minutes before noon.
Pearson, the top gainer in the FTSE 100 index, moved up 4.2%. Scottish Mortgage surged 3.3%, while Berkeley Group Holdings and HSBC Holdings advanced by 2.5% and 2.2%, respectively.
Berkeley Group Holdings shares rose after the homebuilder mainained its full-year pre-tax profit guidance for fiscal 2026 despite posting weaker interim revenues and profits.
Anglo American Plc gained nearly 1% after its shareholders voted overwhelmingly in favor of a merger of equals with Canadian miner Teck Resources Limited.
Tesco, Standard Chartered, WPP, Rio Tinto, Endeavour Mining, Antofagasta, Relx, Anglo American Plc, Glencore and British American Tobacco also posted strong gains.
Mondi, St. James's Place, Kingfisher, Airtel Africa, BAE Systems, Halma, Vodafone Group, Phoenix Group Holdings and Prudential lost 1 to 1.6%.
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