FTSE 100 watch: Footsie steady as investors await Fed decision

Glencore share price jumps after Katanga settlement

FTSE 100 watch: Footsie steady as investors await Fed decision

The FTSE 100 index has advanced in today’s session, holding steady with investors awaiting the outcome of the US Federal Reserve’s latest policy meeting. Glencore (LON:GLEN) meanwhile has soared near the top of the FTSE 100 leaderboard after announcing a settlement in Congo.

FTSE 100 steady

As of 12:12 BST, the Footsie had added 32.32 points to stand 0.42 percent higher at 7,736.13. Sentiment has been upbeat today, despite investor caution ahead of the Fed rate decision which will be announced later today, after the UK market closes.

A fall in oil prices has propped up shares in easyJet (LON:EZJ) and British Airways and Iberia parent International Consolidated Airlines Group (LON:IAG), spelling lower fuel costs. easyJet’s share price is 2.48 percent better off at 1,796.00p, while shares in IAG are changing hands 3.09 percent higher at 721.00p.

Individual movers

In individual Footsie movers, shares in Glencore have been in demand after its Katanga unit announced a settlement of the DRC legal dispute with La Générale des Carrières et des Mines and an agreement for the resolution of the capital deficiency at the unit’s 75-percent owned DRC operating subsidiary Kamoto Copper Company. Glencore’s share price is currently 2.89 percent up at 394.70p.

Shares in Just Eat (LON:JE) meanwhile have been sold off after its rival Deliveroo unveiled expansion plans. The Guardian reports that the London-based food delivery company plans to  expand in the UK this year by signing up 5,000 eateries who use their own delivery fleets in a direct challenge to its FTSE 100 rival. Just Eat’s share price is 7.22 percent down at 788.60p.

The FTSE 100 was 0.46 percent up at 7,738.89 points as of 12:49 BST on Wednesday, 13 June 2018.

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