Commodity-linked stocks, banks lead FTSE 100 higher

Author of the article: London’s FTSE 100 rose on Wednesday with heavyweight mining, energy and banking shares leading gains as investors await the outcome of a Federal Reserve meeting later in the day, while gains in travel related stocks helped support the mid-cap index. The blue-chip FTSE 100 rose 1.3% with Royal Dutch Shell, BP,…
Commodity-linked stocks, banks lead FTSE 100 higher

Author of the article:

London’s FTSE 100 rose on Wednesday with heavyweight mining, energy and banking shares leading gains as investors await the outcome of a Federal Reserve meeting later in the day, while gains in travel related stocks helped support the mid-cap index.

The blue-chip FTSE 100 rose 1.3% with Royal Dutch Shell, BP, Glencore and HSBC Holdings the top boosts to the index.

The banking sub-index rose 1.5%, tracking higher yields amid expectations of higher interest rates.

Global shares steadied after sharp losses earlier this week as investors awaited any hints about faster tightening of monetary policy from the U.S. Federal Reserve later in the day.

The domestically focussed mid-cap index was up 1.0% with travel and leisure stocks leading gains.

Britain’s Pets At Home jumped 3.1% after pet supplies retailer raised its profit outlook for fiscal 2022, as it witnessed sustained demand across its businesses.

Hungary-based carrier Wizz Air added 2.1% even after it posted a third-quarter operating loss and said the fourth quarter loss was likely to be slightly higher, before an expected improvement in spring. (Reporting by Shashank Nayar in Bengaluru; Editing by Shailesh Kuber)

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