{"id":113027,"date":"2021-04-28T08:54:28","date_gmt":"2021-04-28T08:54:28","guid":{"rendered":"https:\/\/fin2me.com\/?p=113027"},"modified":"2021-04-28T08:54:28","modified_gmt":"2021-04-28T08:54:28","slug":"lloyds-wpp-pull-ftse-100-higher-ahead-of-fed-decision","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/lloyds-wpp-pull-ftse-100-higher-ahead-of-fed-decision\/","title":{"rendered":"Lloyds, WPP pull FTSE 100 higher ahead of Fed decision"},"content":{"rendered":"

(Reuters) -London\u2019s FTSE 100 climbed on Wednesday, boosted by a series of positive earnings updates from companies, including Lloyds Banking Group and WPP, while investors awaited the outcome of the U.S. Federal Reserve\u2019s policy meeting.<\/p>

Slideshow ( 2 images )<\/span><\/figcaption>

The blue-chip index rose 0.4%, with Lloyds Banking Group jumping 3.4% to the top of the index after Britain\u2019s biggest domestic bank reported upbeat profit for the first three months of the year.<\/p>\n

The wider banking index also added 1%, with Barclays and Natwest Group among the biggest gainers ahead of their earnings reports this week.<\/p>\n

WPP gained 2.8% after the world\u2019s biggest advertising company said its underlying net sales returned to growth ahead of target as clients started to spend to prepare for the global economic recovery.<\/p>\n

\u201cThe economy did much better than I expected and this is also being reflected in earnings. It shows that consumers and businesses have clearly found the race around the economic restrictions,\u201d said Stefan Koopman, a senior market economist at Rabobank.<\/p>\n

\u201cThere\u2019s quite some savings that could be spent this year … and could set the economic recovery in motion. So, that\u2019s good news for UK companies clearly.\u201d<\/p>\n

Earlier this week, Goldman Sachs said it expects Britain\u2019s economy to grow by a \u201cstriking\u201d 7.8% this year, faster than the United States.<\/p>\n

The FTSE 100 has gained 7.8% year-to-date on optimism that speedy COVID-19 vaccinations and constant policy support from the government would drive a stronger economic recovery.<\/p>\n

The domestically focussed mid-cap FTSE 250 index advanced 0.5%.<\/p>\n

Among other stocks, homebuilder Persimmon added 2.4% after saying it expects first-half volumes to return to 2019 levels as the sector benefits from government support measures and low interest rates.<\/p>\n

The wider homebuilders index also rose 2%.<\/p>\n

Investors\u2019 focus has now turned towards the U.S. central bank, which is expected to reaffirm its accommodative monetary policy stance at the end of its two-day meeting and dismiss any suggestions of tapering bond purchases.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) -London\u2019s FTSE 100 climbed on Wednesday, boosted by a series of positive earnings updates from companies, including Lloyds Banking Group and WPP, while investors […]<\/p>\n","protected":false},"author":3,"featured_media":113026,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nLloyds, WPP pull FTSE 100 higher ahead of Fed decision - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/lloyds-wpp-pull-ftse-100-higher-ahead-of-fed-decision\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lloyds, WPP pull FTSE 100 higher ahead of Fed decision - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) -London\u2019s FTSE 100 climbed on Wednesday, boosted by a series of positive earnings updates from companies, including Lloyds Banking Group and WPP, while investors [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/lloyds-wpp-pull-ftse-100-higher-ahead-of-fed-decision\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-28T08:54:28+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/04\/Lloyds-WPP-pull-FTSE-100-higher-ahead-of-Fed-decision.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/lloyds-wpp-pull-ftse-100-higher-ahead-of-fed-decision\/\",\"url\":\"https:\/\/fin2me.com\/markets\/lloyds-wpp-pull-ftse-100-higher-ahead-of-fed-decision\/\",\"name\":\"Lloyds, WPP pull FTSE 100 higher ahead of Fed decision - 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