FTSE 100 Holds Steady Amid Investor Focus on Fed's Powell
The FTSE 100 remained stable after record highs as investors await Jerome Powell's insights on U.S. interest rates. The FTSE 250 gained 0.3%, with banking stocks leading. Global focus turns to the Jackson Hole symposium, seeking signals for a U.S. rate cut amid labor market concerns.
Britain's FTSE 100 maintained its stability on Friday after achieving record highs earlier in the week. This lull comes as global investors eagerly await Federal Reserve Chair Jerome Powell's forthcoming speech, hoping for clues about the direction of future U.S. interest rates.
As of 1042 GMT, the FTSE 100 showed little movement, set to close the week with a nearly 2% increase. The index experienced a climb, benefiting from a shift away from technology stocks that resulted in a selloff on Wall Street earlier in the week.
Looking at individual sectors, London's banking stocks led gains within the FTSE 100, with Standard Chartered's shares jumping 3% after a favorable ruling by the U.S. Department of Justice. Meanwhile, the energy sector experienced modest growth amid steady oil prices, but consumer stocks saw a slight decline despite an overall positive week.
(With inputs from agencies.)
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