The FTSE 100 held on to gains but refused to make big strides in an anxious wait to the Fed’s Jackson Hole conference on Friday. The now virtual conference has virtually kept markets waiting and guessing on how rapidly the Fed would start reversing its quantitative easing programme. Absence of economic data releases in U.K. during the week has also kept market clueless on the next course of action.
FTSE 100 is currently trading at 7140.48, up 0.21 percent over previous close of 7125.78.
At this level, the benchmark is just 1.1 percent shy of breaching the 52-week high of 7220.14.
A total of 57 scrips in the 101-scrip index are now trading higher than Tuesday’s levels.
Online grocery retailer Ocado group has rallied by 3.3 percent, closely followed by engineering specialist Weir group which has gained 2.9 percent. Standard Chartered too has gained around 2.3 percent.
Water and waste water companies United Utilities group as well as Severn Trent have shed around 1.3 percent.
The GBPUSD pair is hovering around 1.3714.
Yields on U.K.’s ten-year bonds have increased to 0.5740 percent versus previous close of 0.5380 percent, reflective of the lingering anxiety on monetary policy tightening.
FTSE 100 Edges Up In Anxious Wait To Friday’s Fedspeak
2021-08-25 12:46:31
