FTSE Slips as Focus Shifts to Fed Meeting

The FTSE 100 closed down by just 3.3 points, as all eyes turned to the Fed, waiting for news on their monetary policy. The UK’s blue chip index ended the day down by 0.05 percent, sitting at 7,271, with the FTSE 250 up by five points.

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Analysts are now waiting for the news on the Fed’s interest rate decisions, and there is speculation on both sides. Traders are divided as to whether the bank will opt to increase interest rates in December or not.

The biggest gainer in the FTSE was Babcock International, and shares advanced by 5.81 percent. The engineering company said that current trading was in line with expectations, and they also maintained their full-year outlook.

The company said that revenue visibility was continuing to improve, with 89% of its revenue in place for the financial year that will end in March 2018, and 57% of its revenue in place for the next financial year.

Meanwhile, Diageo PLC lost 2.78 percent, after publishing a comparatively downbeat statement following on from its AGM, noting that the date of the Chinese New Year might cause issues for it this year, and hinder sales. The company is also seeing the prospect of sales hampered by new Indian trading regulations for the sale of Alcohol in certain areas.

Meanwhile, the Dow Jones slipped during early trading, while the S&P 500 opened up slightly higher, but there was little lead for other markets from the tone of US stocks.

 

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