FTSE rises as taper fears recede

In mid-morning trading the FTSE 100 is up 25 points, with traders looking ahead to the Federal Reserve statement tomorrow.

Trading activity picked up in London this morning after yesterday’s storm turned the City into a ghost town. Equities opened higher, as traders know full well that the Federal Reserve will not be tapering its bond-buying scheme any time soon, thanks to the partial shutdown at the start of the month. Any change to US monetary policy this side of Christmas will come as an unpleasant surprise to traders. 

Lloyds Banking Group is still being haunted by the PPI scandal. The stock is trading 5p higher than the government's 73p breakeven price, but traders are still hesitant to buy into the bank, as it has put another £750 million aside for PPI compensation.

BP is at the top of the FTSE 100 leaderboard, as a 5.6% increase in dividend and stronger-than-expected profit caught investors’ attention.

Meanwhile, Standard Chartered is offside this morning, as the emerging-market-focused bank revealed a small decline in third-quarter revenue.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by analysts

Een artikel zoeken

Form has failed to submit. Please contact IG directly.

  • Ik wens per e-mail informatie van IG Group bedrijven te ontvangen over handelsideeën en IG's producten en diensten.

Voor meer informatie over hoe wij uw gegevens mogelijk kunnen gebruiken, bekijkt u ons Privacy- en toegangsbeleid en onze privacy website.