UK indexes remain flat ahead of Fed meeting

Miners and energy stocks were the biggest gainers yesterday on the London Stock Exchange, due to rumours that China is planning a gradual exit from its Covid Zero policy. The FTSE 100 added 1.3%,

Sentiment was boosted by the release of PMI indicators in the US which exceeded expectations at 50.2, in expansion territory.

Today, the FTSE 100 is flat, with investors trading cautiously ahead of the Fed meeting later today, with another 0.75% interest rate hike expected. They will be looking for clues about the future of the US central bank's monetary policy. The Bank of England is also expected to state its monetary policy decision tomorrow.

Among stocks, GSK rose 1% after upgrading its full year guidance, with sales forecast to rise between 8% and 10%.

Meanwhile, Metro Bank climbed 5.8% after returning to profit in September.

 

Things to read today:

Fed set to raise interest rates by 0.75 percentage points for fourth time in a row (Financial Times)

Don't Fear the UK's Coming Zombie Apocalypse (Bloomberg)