The FTSE 100 is up by 0.45% on Thursday, climbing to 7,115 points at the time of writing as it builds on its recent form.
“The FTSE 100 consolidated its recent gains on Thursday after a meeting of the US Federal Reserve overnight which ultimately revealed few surprises,” says AJ Bell investment director Russ Mould.
This follows a brief respite from major news, although there could soon be some on the way.
“There was nothing to really upset the apple cart. Tapering is still ‘coming soon’. As a teaser this is about as welcome for markets as a trailer advertising a sequel to historic box office stinker Howard the Duck would be for moviegoers, but, still, nothing investors weren’t already aware of,” said Mould.
“There does appear to be some hardening around the idea of a rate rise in 2022 but again this is not a major shock and at least indicates some confidence around economic prospects despite the recent volatility in equities.”
“There is unlikely to be any movement from the Fed’s counterparts at the Bank of England later today – despite inflationary pressures creeping up. However, there will be an expectation of some kind of signal on when its own asset purchases will be scaled back and if a UK rate rise could be in prospect next year.”
FTSE 100 Top Movers
Rolls-Royce (3.76%) and miners Antofagasta (3.38%) and Glencore (1.91%) are leading the way atop the FTSE 100 on Thursday morning.
At the bottom of the pile, Entain (-2.73%), Hargreaves Lansdown (-1.6%) and Polymetal International (-0.58%) are the biggest fallers.