FTSE 100 rebounds from 4-day losing streak on Fed rate cut hopes, Reckitt settlement

11 Jul, 2019

The FTSE 100 added 0.2%, with the biggest support from oil majors. The mid-cap FTSE 250 rose 0.3% by 0707 GMT.

Federal Reserve Chairman Jerome Powell on Wednesday said the central bank was prepared to "act as appropriate" to counter a threat to the economy from the effects of a trade dispute with China and disappointing factory activity, stoking hopes that the Fed would ease its policy later this month.

Reckitt Benckiser added 2.2% after it agreed to pay up to $1.4 billion to resolve all U.S. federal investigations in connection with the sales and marketing of Suboxone Film by its former unit Indivior.

Indivior gained 24% after it raised its annual profit and revenue forecast in a separate statement as Suboxone lost market share at a lower pace than expected.

Copyright Reuters, 2019

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