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

Published 11/07/2019, 08:23
Updated 11/07/2019, 08:30
© Reuters. FTSE 100 rebounds from 4-day losing streak on Fed rate cut hopes, Reckitt settlement
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.2%, FTSE 250 up 0.3%
* Fed Chair's comments reinforce rate cut bets
* Reckitt among top gainers on main index
* Drugmaker Indivior surges after forecast upgrade

July 11 (Reuters) - London's main index snapped a four-day
losing streak on Thursday as comments from the U.S. central bank
reinforced bets of an interest rate cut and lifted broader
sentiment, while Reckitt gained after agreeing to a settlement
with U.S. authorities.
The FTSE 100 .FTSE added 0.2%, with the biggest support
from oil majors. The mid-cap FTSE 250 .FTMC 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 RB.L 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 INDV.L .
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.

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