Miners pace the gains as investors eye Fed meeting

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.

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