(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 was up 1.1% by 0715 GMT. The benchmark index is headed for its best day in over a month, if gains hold through close.
Automobile and parts were the biggest gainers with a 2.4% jump.
Industrial metal miners advanced 2% as copper prices hit a one-week high. Energy shares climbed 1.4%, tracking stronger oil prices amid concerns of Hurricane Francine impacting U.S. output. [O/R]
Most major sub-sectoral indexes traded higher except precious metal miners that slipped 0.2% despite an uptick in gold prices.
Global sentiment also bounced back with Asian markets trading higher after Wall Street closed up overnight on a boost from technology stocks.
The U.S. consumer price index data cleared some uncertainty over…
