- FTSE 100 closes up 30 points to 10,688.47
- Wall Street nudges up
- Barratt tops the risers
- Inflation edges higher
Close
That's it, folks. The FTSE 100 ended it the green, but well off its session high, ending 30 points up at 10,688.47.
14.44: Wall Street makes tentative progress
London's blue-chip index kept its head above water on Wednesday, though the shine had come off by mid-afternoon.
The FTSE 100 was up 43 points, off its session high, as traders braced for the Federal Reserve's interest-rate decision later in the day.
The US central bank is expected to raise rates for the first time in three years, with markets putting the odds at 93%.
Across the Atlantic, US stocks were mixed after opening.
The S&P 500 rose 0.2% and the Nasdaq gained 0.4%, while the Dow dipped below the flat line.
A bond sell-off has pushed the 10-year US Treasury yield to its highest since the financial crisis, weighing on sentiment.
Bitcoin fell below $76,000 after the Senate failed to pass a key procedural vote on new crypto rules.
Focus now turns to Fed chairman Kevin Warsh's press conference.
12.47: US set for a green day
The FTSE 100 builds momentum ahead of a Fed decision that could bite
London's blue-chip index is finding its feet on Wednesday, and the afternoon could bring the real test.
The FTSE 100 was up 70 points ahead of the open, building momentum as traders position for the Federal Reserve's interest-rate decision later in the day.
Investors expect the US central bank to raise rates for the first time in three years, with markets putting the odds at 92%.
The mood elsewhere is jittery.
A bond sell-off has pushed the 10-year US Treasury yield to its highest since the financial crisis, weighing on sentiment.
Bitcoin slid below $76,000 after the Senate failed to pass a key procedural vote on new crypto rules.
The focus now shifts to Fed chairman Kevin Warsh's press conference.
11.33: Blue-chips kick on
Global stocks edged higher on Wednesday morning as oil prices slipped and bond yields steadied ahead of the Federal Reserve's interest-rate decision.
The FTSE kicked on during the late morning session, building on earlier gains to register a 60-point advance. The FTSE 250 added more than 100 points, or 0.38%, to reach 23,919.
Oil prices eased as reports of extra Saudi crude shipments through Oman calmed fears over the scale of supply disruption in the Middle East.
European diesel prices remained close to record highs, Reuters said.
Brent crude fell 0.90% to $107.77 a barrel.
That extended a decline from $108.01 earlier in the session.
9:05: Miners lead the charge
Mining stocks sprang back to life, helping propel the FTSE 100 34 points higher, reclaiming Tuesday's losses.
Barratt Redrow topped the blue-chip risers, climbing 7% after reporting a 5% increase in annual home completions to 17,667, near the upper end of guidance. Rival Persimmon gained 3%.
Preview: Brighter start predicted
The FTSE 100 looks set to shrug off another uptick in UK inflation and a soggy night on Wall Street, with futures pointing to a higher open on Wednesday.
IG's indicative price had London's blue-chip index opening around 10,689, up roughly 31 points on Tuesday's close of 10,658.
Investors seem unruffled by news that consumer price inflation nudged up to 3.1% in August from 2.9%, bang in line with forecasts and dutifully drifting further above the Bank of England's 2% target.
All eyes, though, are on the US Federal Reserve, which hands down its rate verdict later today, with markets betting heavily on a quarter-point rise.
Higher oil prices, with Brent near US$108 a barrel, could lend BP and Shell a hand.
