The latest from London: The FTSE 100 rises ahead of Fed decision

01/26/2022 | 05:30am

The UK stock market continues its rebound after Monday’s selloff. The FTSE 100 ended 1% higher yesterday and is up 1.8% this morning. Energy and banking shares are leading the index.

The Federal Reserve is ending a two-day meeting today, and bar any surprises, should announce that it will go ahead with a rate hike in March. The central bank is not expected to go further this for now, due to the S&P 500 and the Nasdaq entering correction territory this month, and the flattening of the U.S. yield curve. Its policy decision due at 1900 GMT.

Among stocks, Britain's Pets At Home rose 3.1% after raising its profit guidance for fiscal 2022 on sustained demand.

Meanwhile, Wizz Air gained 2.1% after announcing that it is expecting an improvement in spring.

Investors will also keep an eye on the earnings season, with many big names due to post their results today in the US, including Boeing, Intel and Tesla.

 

Things to read today:

A Whiff of Munich (Project Syndicate)

Cathie Wood declares ‘innovation is on sale’ after rout in tech stocks (Financial Times)

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