FTSE 100 Holds Steady Amid Fed's Cautious Stance

The FTSE 100 remained stable after the U.S. Federal Reserve Chairman's comments suggested a less aggressive stance, with healthcare stocks boosting the index. Investors were cautious, especially regarding tech stocks, affected by Oracle's forecast. Notable movements included Entain's fall and RS Group's gain.

London's FTSE 100 index remained steady on Thursday following comments from U.S. Federal Reserve Chairman Jerome Powell that were less hawkish than investors had feared. Powell's remarks created a global atmosphere of caution, limiting potential gains.

By 1043 GMT, the FTSE 100 was up 0.1%, while the mid-cap FTSE 250 index showed little change. The Federal Reserve lowered interest rates by 25 basis points as widely expected, but signaled that further rate cuts are unlikely in the immediate future, pending more clarity on the labor market conditions.

Healthcare stocks provided some buoyancy to the FTSE 100, with AstraZeneca and Convatec contributing gains. Meanwhile, miners rose by 0.2% alongside increased copper prices. However, utility and tech stocks saw declines amid global caution following Oracle's downbeat forecast. In individual stock movements, gambling firm Entain fell after announcing a leadership change.