With the Federal Reserve’s interest rate decision not being made until after the market closed, the UK’s main index remained higher throughout the day.
Analysts are expecting the Fed to raise interest rates tomorrow, with the Fed Fund Futures, a toll used to measure the likelihood of a hike, suggesting there is a 79% chance of a lift this evening.
Joshua Mahony, at spread betting firm IG, said: “The time for talking is over at the Fed, as the committee prepare to raise rates for the first time in nine years.
But, he added: “Given market expectations of a rate hike at the top-end of the likely reality, there seems to be a good chance the Fed will under-hike, causing a relief rally.”
Stateside, the major benchmarks opened sharply higher with the Dow Jones industrial average gaining 26 points to 17,551 while the S&P 500 rose 7 points to around 2,050.
Back in the UK, the FTSE 100 ended the day 43 points, or 0.7%, higher to 6,061 with Standard Chartered (LON:STAN) at the top of the index.
Reports suggest the bank has axed around six of its oil and gas advisory roles, ending attempts to build a global mergers & acquisitions (M&A) team.
It’s part of the restructuring at the bank, as chief executive Bill Winters looks to slash costs. Shares jumped 6.4% or 30p to 512p.
Also leading the charge was Pearson (LON:PSON) following a couple of upbeat broker notes from Exane BNP Paribas and Bernstein.
The firm, which recently sold the Financial Times to concentrate on its education business, rose more than 5%, ending the day at 743p.
Staying with the inhabitants of the FTSE100, Rolls-Royce (LON:RR) has decided it needs a management shake-up as it looks to turn the business around.
The plans revealed on Wednesday will see the end for its current structure splitting its aerospace and land and sea divisions.
Tony Wood, the president for aerospace who has been with the company for 15 years, and Lawrie Haynes, the boss of land and sea, will leave the company as a result. Shares climbed around 5% to 566p.
Away from the index, Superdry owner Supergroup (LON:SGP) jumped by more than 12%, briefly hitting a 20-month high of 1,712p, before settling back to around 1,700p by the close of play.
The firm reported total revenues climbed 22% to £254mln in the 26 weeks to October 24.
In the small cap world, The People’s Operator (LON:TPOP) dropped around 12.8% to 85p.
The commercial mobile virtual network operator made £602,964 in revenue during the first half of 2015, after warning in November that its revenue would be below hopes.
Also lower was PeerTV (LON:PTV), down 30% to 2.6p as a meeting hoped to restructure its subsidiary Digitek was held today, with 73% supporting the motion. The firm needed 75% and so this has not been passed.
It wasn’t all bad news, however, as W Resources (LON:WRES) leapt around 15% to 0.53p.
The firm reported more strong indications of tungsten from drilling at La Parrilla in Spain. The best result was 11m at 0.20% WO3 (tungsten) from 29m in Hole IRC1-35, though hole 34 showed 0.15% over 5m.