FTSE 100 closes short of record levels despite further gains
FTSE 100 closes short of record levels despite further gains
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The FTSE 100 finished just short of a fresh record high despite rising amid strong sessions from utilities firms. It came as Chancellor Rachel Reeves set out ambitions to kickstart economic growth with planning reform, as the Government laid out support for Heathrow expansion.
The announcement had a largely subdued response in the City, as banking firms and retailers witnessed broad positive trading. Monday’s slump and Tuesday’s recovery have given way to indecisive trading today as investors await the Fed decision and earnings.
London’s top index finished 23.94 points, or 0.28%, higher to end the day at 8,557.81. Elsewhere in Europe, the other key indexes were mixed but still hovered around record levels, with Germany’s Dax lifting further amid a boost from Daimler Truck shares.
The Cac 40 ended 0.32% lower for the day and the Dax index was up 0.9%. Across the Atlantic, trading on the main US markets was mixed ahead of the latest Federal Reserve interest rate decision on Wednesday evening. Chris Beauchamp, chief market analyst at IG, said: “Monday’s slump and Tuesday’s recovery have given way to indecisive trading today as investors await the Fed decision and earnings.
“Tonight’s rate decision is all but guaranteed to be a hold, but the press conference will likely prove to be one of the more interesting, if only to watch Jerome Powell don his diplomatic garb once again and avoid being drawn on how the new administration’s possible tariffs will affect Fed policy.”.
