The FTSE 100 rose this morning ahead of the general election tomorrow as optimism that the US Federal Reserve will cut rates in September fed through to markets. In a speech yesterday, Federal Reserve chair Jerome Powell said he was confident US inflation was on a downward trajectory, though he declined to give any specific guidance on when the US's central bank might first cut rates. Back in the UK, this morning International Consolidated Airlines Group (IAG), Fresnillo (FRES) and Barclays (BARC) all rose by 3.
35%, 3.35% and 3.04%, respectively.
Mining companies also benefited from the hopes, with BHP (BHP) and Glencore (GLEN) both rising by 1.8% and 1.5%, respectively.
However, the biggest fallers were JD Sports Fashion (JD), 3i Group (IGQ), and Compass Group (CPG), which dropped –2.04%, -1.05%, and 0.
7% respectively. Over the last trading days, the UK blue-chip index is down by just -0.72% overall.
Polling opens tomorrow morning in the UK, and will last all day as voters decide on the next government. In a note published today, analysts at Goldman Sachs predict the Labour Party, which is well ahead in the polls, will have limited "fiscal headroom" to carry out its raft of manifesto commitments. As a result.
.. Christopher Johnson.
