FTSE 100 Up Marginally At Noon As Investors Await Central Banks Meetings
(RTTNews) - The UK stock market's benchmark index FTSE 100 recovered after a mild setback Monday morning and was up marginally around noon amid cautious moves by investors ahead of key central banks meetings this week.
Slight optimism about U.S. and Iran holding a fresh round of peace negotiations aided sentiment.
The Bank of England, scheduled to announce its monetary policy this week, is expected to keep interest rates unchanged as policymakers weigh rising inflation from the Gulf crisis against risks to economic growth.
Investors also await monetary policy statements from the Federal Reserve, the Bank of Japan and the European Central Bank this week. The FTSE 100 was up 17.35 points or 0.17% at 10,396.43 a few minutes past noon.
Among the gainers, Burberry Group, Metlen Energy & Metals, Whitbread, M&G, Halma and Rolls-Royce Holdings moved up 1.3%-2%.
Games Workshop, BP, Standard Chartered, Smiths Group, Centrica, Barclays, Antofagasta, HSBC Holdings and DCC posted moderate gains.
AstraZeneca moved higher after the company said its Saphnelo has received FDA approval as a once-weekly autoinjector for adults with systemic lupus erythematosus.
Entain tumbled 6.5% on news that major shareholder Eminence Capital is being shuttered. According to a letter to advisors seen by Bloomberg, hedge fund veteran Ricky Sandler is shuttering Eminence and returning investor cash after a 27-year run.
Sandler was understood to have told clients that the hedge fund hasn't performed well enough in recent years to keep operating.
Sainsbury (J) drifted down 2.7%, while BT Group, Intertek Group, British American Tobacco, Weir Group, Marks & Spencer, Haleon, Endeavour Mining Airtel Africa and Mondi lost 1%-2%.
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