City news.The ftse 100 Index FTSE 100 IndexA market-weighted index of the 100 leading companies traded in Great Britain on the London Stock Exchange. The Financial Times surged to a new five-year high today as world markets cheered signs that US interest rates may be near their peak. Shares in Wall Street shot up yesterday on the back of the guidance from the Federal Reserve, despite the impact of soaring soaring: see flight; glider. soaring or gliding Sport of flying a glider or sailplane. The craft is towed behind a powered airplane to an altitude of about 2,000 ft (600 m) and then released. oil prices. The London London, city, Canada London, city (1991 pop. 303,165), SE Ont., Canada, on the Thames River. The site was chosen in 1792 by Governor Simcoe to be the capital of Upper Canada, but York was made capital instead. London was settled in 1826. market welcomed the news today despite a poor performance from Associated British Foods, and was rising in early trading. Analysts will be watching the Bank of England's minutes for an idea of whether an interest rate cut this side of the Atlantic is also imminent. Despite the general optimism, stock in British Sugar and Silver Spoon owner Associated British Foods slumped 4pc or 35.5p to 807.5p after it said profits were under pressure. The food and retail group warned earnings would continue to be hit in the second half and through next year. |
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