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FTSE Close: Stocks mixed ahead of Fed decision

The FTSE 100 closed down 0.5%, at 7,630.57 on Wednesday ahead of the US Federal Reserve interest rate decision. The FTSE 250 ended up 0.4%, marginally higher, at 19,357.95 and the AIM All-Share closed down …

The FTSE 100 closed down 0.5%, at 7,630.57 on Wednesday ahead of the US Federal Reserve interest rate decision. The FTSE 250 ended up 0.4%, marginally higher, at 19,357.95 and the AIM All-Share closed down -0.04% at 754.75.

In the blue-chip index, housebuilders bucked the downward trend. Taylor Wimpey added 0.5%, Barratt Developments rose 1.2% and Persimmon climbed 0.4%.

Meanwhile, GSK gained 2.0% after reporting pretax profit climbed 7.7% to £6.06 billion in 2023 from £5.63 billion a year prior. Revenue rose 3.4% to £30.33 billion. GSK declared a 16.00 pence per share final dividend, up from 13.75p in Q4 2022, but total dividend fell 5.3% to 58.00p from 61.25p.

In the FTSE 250, Harbour Energy lost 5.4% after Goldman Sachs cut its rating to ‘sell’. Among small caps, Smiths News rose 2.3% after securing contract renewals across 74% of publisher revenue to at least 2029.

On AIM, ITM Power surged 24%. The electrolyser maker reported revenue for the six months ended October 31 increased to £8.9 million from £2.0 million a year earlier. Pretax loss narrowed to £18.2 million from £56.5 million. Chief Executive Dennis Schulz said the company completed its 12-month plan on time.

FTSE All-Share Gainers

Ceres Power 13.9%, Synthomer 12.1%, Superdry 7.3%, Hunting 5.0%, Croda International 4.8%, Porvair 4.8%, Motorpoint 4.3%, Harworth Gp 3.9%, SThree 3.7%, Lancashire Holdings 3.4%.

FTSE All-Share Fallers

Cab Payments: -8.73%, Petrofac: -8.3%, Molten Ventures: -8.23%, Harbour Energy: -5.43%, Wood Group (J): -5.35%, Enquest: -5.15%, Tullow Oil: -4.61%, Pets at Home: -4.5%, Speedy Hire: -4.41%, Renishaw: -4.31%.

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