FTSE 100 Rises Amid U.S. Rate Cut Optimism
The UK's FTSE 100 index climbed 0.3% on Thursday, bolstered by optimism over a potential U.S. Federal Reserve interest rate cut. Personal care and automobile sectors were top gainers, while energy shares declined. Investors are focused on PMI surveys and the upcoming Jackson Hole symposium.
The UK's benchmark FTSE 100 stock index rose on Thursday, gaining 0.3% to reach 8,306.87 by 0715 GMT. The surge was fueled by heightened optimism regarding a likely interest rate cut by the U.S. Federal Reserve.
Key sectors driving the FTSE 100 included personal care, drug, grocery shares, and automobile parts, which saw rises of 1.2% and 1.3%, respectively. Unilever and Aston Martin were among the top performers, while energy shares declined by 0.7% due to falling oil prices.
Investor focus remains on PMI surveys in the U.S., UK, and other economies, alongside U.S. jobless claims data. The Jackson Hole economic symposium, featuring a key speech from Fed Chair Jerome Powell on Friday, is also anticipated. Among individual stocks, JD Sports Fashion rose 3.2%, topping the FTSE 100 index, while Ithaca Energy slid 2.9% after posting lower first-half net profits.
(With inputs from agencies.)
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