Global stock markets were given a boost today as attention turned to a key meeting of US policymakers later this week.
Analysts are increasingly optimistic that US Federal Reserve members will play down the prospect of an imminent cut in emergency support for the country’s economic recovery.
The speculation cheered the FTSE 100 Index, which rallied 22.2 points to 6,330.5 as investors look to make up for recent heavy losses.
Defensive stocks were in favour among London investors, with credit-checking firm Experian up 2.3% or 26p to £11.73 and household goods firm Reckitt Benckiser £1 stronger at £46.79.
Other blue-chip risers during a quiet session for corporate news included Vodafone, which rose 2.65p to 182.7p.
Retail stocks were also doing well, with Next up 32p to £45.85 and Sainsbury’s 5.7p higher to 375.5p in the week that the supermarket chain plans to relaunch fashion brand Tu.
Primark owner Associated British Foods, which also has the brands Ryvita and Ovaltine in its portfolio, was 50p lower at £17.32 after broker Nomura downgraded its price target on the stock due to the volatile pricing outlook for the company’s sugar business.
The biggest risers on the FTSE 100 included Aggreko, up 66p to £17.91 and Resolution 8p ahead to 283.1p.
Among the biggest fallers on the FTSE 100 were Arm Holdings off 32p to £8.30, Randgold Resources down £1.42 to £47.39 and Petrofac off 36p to £12.88.
Carrie Keenan, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that Weir Group added 2.04% at £22.06 and Aberdeen Asset Management closed the day 2.02% higher at 404.3p.
On the fallers board, FirstGroup shed 1.81% at 91.95p whilst Hunting lost 1.89% at 778.75p.