- Investors cautious ahead of Fed meeting with interest rates in focus
- FTSE 100 rises on the open as traders cling onto optimism about softening monetary policy
- Housebuilders rise despite snapshot of falling prices.
- Made.com files for administration just 16 months after its IPO.
- China’s manufacturing snapshot not as bleak as forecast
- BP shares muted despite posting an £ 8.2 billion profit
Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown:
‘’The waiting game for the Fed is still on, with investors largely in the dark, until the US central bank illuminates the path ahead for interest rate rises tomorrow. In the interim they have been feeling their way to a more optimistic attitude, hopeful that economic indicators hinting that inflationary pressures are beginning to subside, could lead to a softening in monetary policy. Despite the falls on Monday, the Dow Jones pulled off the best October performance since 1976, while the S&P 500 also gained more than 5% on the month, pulling it out of the bear market low. The FTSE 100 has opened up by more than 1%, while the CAC 40 in Paris, and the DAX in Frankfurt, are also higher.
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