UK equities advance ahead of the FOMC statement release

Note: This section contains information in English only.
Source: Dukascopy Bank SA

UK stocks are slightly higher ahead of the FOMC statement due later in the day.  Traders expect the Fed to announce asset-purchasing program to boost faltering economy. Strong US and Asian shares also supported the UK equities. The FTSE 100 Index halted its downward trend, gaining 0.14% to trade at 5,790.11. Seven out of ten sectors within the index jumped. The top-gainers were telecommunications and utilities. BT Group and Vodafone Group surged 1.20% and 1.90% while Centrica and National Grid advanced by 0.46% and 0.66%. On the downside were retailers, with Next leading the losses. Next dropped by 6.40% after reporting that sales in August and September missed estimates. Kingfisher and Marks & Spencer Group followed the Next suit, falling by 0.95% and 0.93%.

 

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