The FTSE 100 is seen rising 0.4% in early trade today after shedding 0.45% on Tuesday. The Fed said yesterday that it was prepared to provide additional stimulus to support the economy.
Miner Vedanta Resources (LON:VED) and oil and gas producer Cairn Energy (LON:CNE) emerged atop the leaderboard with gains of 2.3%. Distributor of building supplies Wolseley (LON:WOS) followed, climbing 2%. Engineering firm Smiths Group (LON:SMIN) added nearly 2%, while security services company G4S (LON:GFS) advanced 1.5%. Tour company TUI Travel (LON:TT), silver miner Fresnillo (LON:FRES) and engineering firm Invensys (LON:ISYS) tacked on just over 1%.
Base metal miner Eurasian Natural Resources (LON:ENRC) was at the bottom of the pile with a loss of nearly 3%. Insurance focused investor Resolution (LON:RSL), gold miner African Barrick Gold (LON:ABG) and energy company Centrica (LON:CNA) lost 2.1%. Anglo-Swiss miner Xstrata (LON:XTA) retreated 2%.
In the US, the Dow Jones Industrial Average closed with a 0.1% gain, while the broader S&P 500 index declined 0.25% and the technology heavy NASDAQ composite lost 0.3%.
Hong Kong’s Hang Seng advanced 0.75%, China’s Shanghai Composite Index rose 0.1%, Japan’s Nikkei 225 was flat and South Korea’s KOSPI moved up 0.3%, as did Australia’s S&P/ASX 200.
Commodities
Oil prices moved higher. November Brent Crude rose to US$78.35/barrel, while US light, sweet crude for November delivery climbed to US$75.21/barrel.
Gold rallied to US$1,289/oz, while silver and platinum reached US$20.96/oz and US$1,629/oz respectively.
Base metals followed. Copper and nickel advanced to US$3.48/lb and US$10.13/lb. Zinc rose to US$0.965/lb.
Temporary power provider Aggreko (LON:AGK), insurer Aviva (LON:AV) and oil and gas engineering firm Petrofac (LON:PFC) will go ex-dividend today.
Minutes from the latest meeting of the Bank of England’s Monetary Policy Committee will be released today.