The FTSE 100 revived to close 0.6%, or 45 points, higher at 8,357 after Wall Street opened firmer on optimism that US Federal Reserve chief Jerome Powell will flag a September cut in interest rates at this week’s central bankers conference in Jackson Hole, Wyoming.
The S&P 500 gained 0.3% to 5,572 in morning trading as investors priced in three rate cuts by the Fed, down from the six the market forecast earlier this year.
In London, miners propped up the recovery but housebuilder Barratt Developments (BDEV) was the biggest riser, up 3.4% ahead of the completion of its takeover of Redrow (RDW).
11.04: FTSE stalls as China outlook remains bleak
The FTSE 100 softened on Monday morning as data showed foreign investment in China continued to fall, weighing on sentiment, while housebuilder Barratt Developments (BDEV) plans to wrap up its Redrow (RDW) takeover this week.
Data showed the fall in foreign direct investment in China had…
