Sept 12 (Reuters) – London’s FTSE 100 hit its highest level in over a week on Thursday, amid broader gains after some clarity around the U.S. Federal Reserve’s expected interest rate cut improved risk appetite.
The blue-chip FTSE 100 (.FTSE), ended 0.6% higher, while the mid-cap FTSE 250 (.FTMC), was up 0.8%, also registering a one-week high.
Precious metal miners (.FTNMX551030), advanced 3.2%, maintaining a six-day winning streak, following record-high gold prices.
The bullion was helped by expectations of an interest rate cut by the Federal Reserve at its Sept. 17-18 meeting.
U.S. producer prices rose slightly more than expected in August. Markets are currently pricing in an 85% chance of a 25-basis-point U.S. rate cut next week, according to the CME FedWatch tool.
Most major sub-sectoral indexes traded higher with industrial metal miners (.FTNMX551020), advancing 2.4% as copper prices hit near two-weeks high on signs of…
