London stocks rallied in early trade on Tuesday, with miners and Ocado pacing the advance, as investors eyed the start of the Federal Reserve’s two-day policy meeting.
At 0840 GMT, the FTSE 100 was up 1.5% at 7,197.54, while sterling was 0.5% higher against the dollar at 1.1531.
Oanda market analyst Craig Erlam said: “While a 75-basis point hike looks locked in tomorrow, the messaging is what investors are interested in. Despite inflation remaining at eye-watering levels, there’s a growing belief that the central bank will signal a desire to ease off the brake over the following few meetings starting with a 50bps hike in December.
Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.