FTSE 100 Slightly Higher On Rate Cut Bets
2024-10-09
3255
(fxcue news) - U.K. stocks were slightly higher on Thursday as signs of falling inflation spurred expectations that interest rates could be cut faster than previously thought.
The focus now shifts to the ECB's rate decision later in the day, where a 25-bps rate cut is expected. Traders will also focus on commentary from ECB's President Christine Lagarde.
The benchmark FTSE 100 was up 17 points, or 0.2 percent, at 8,346 after rallying 1 percent the previous day.
Miners traded mixed, with Antofagasta falling over 2 percent after another much-anticipated policy briefing by China's housing ministry failed to impress investors.
Smiths Group and Persimmon both lost around 2 percent on going ex-dividend.
Mondi plunged 6.6 percent after the packing company posted a sequential fall in Q3 profit.
Entain soared 5.2 percent after the gambling group exceeded Q3 expectations and raised its 2024 net gaming revenue outlook.
Pest control services group Rentokil Initial soared nearly 9 percent after holding on to its full-year guidance.
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