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FTSE up as US votes against interest rate rise ; FTSE 100 MATTHEW WORTON Brewin Dolphin [Newcastle Journal (England)](Newcastle Journal (England) Via Acquire Media NewsEdge) YESTERDAY YESTERDA provided a refreshing change for the FTSE 100 Index, up 0.57% at 6819.3, as the US Federal Reserve re-affirmed its accommodating monetary policy stance, voting against raising interest rates while continuing to taper its programme of Quantitative Easing (QE). This news should continue to support global equity markets, at least in the short term, although the Fed is set to halt QE after its next meeting on October 28. Leading the pack were TUI Travel, up 4.66% following a broker upgrade from Morgan Stanley. The bank raised the travel group's rating to 'Overweight' following the announcement earlier this week that it is to merge with its German parent company TUI AG. Aberdeen Asset Management were also up 1.85% on news that the company will be avoiding investing in Alibaba, the Chinese E- Commerce Giant about to float in the United States. Questions surrounding Alibaba's legal structure and corporate governance were cited as concerns Aberdeen had ahead of the floatation. Elsewhere in the Index, Marks & Spencer announced new plans to expand overseas by entering the Scandinavian market. The retailer has 250 new international stores planned by 2016 and is set to open 15 new franchise stores across Finland and Norway. Marks and Spencer finished the day up 0.8%. Weighing on the Index was Tullow T Oil, down 2.35% and G4S, down 0.43% after both went Ex-Dividend. [email protected] (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |