London open: FTSE nudges up ahead of Fed announcement
By Michele Maatouk
Date: Wednesday 10 Dec 2025
(Sharecast News) - London stocks were just a smidgen higher in early trade on Wednesday as investors kept to the sidelines ahead of the latest policy announcement from the US Federal Reserve, which is widely expected to cut rates by 25 basis points.
At 0835 GMT, the FTSE 100 was 0.1% firmer at 9,647.75.
Patrick Munnelly at Tickmill Group said: "The FOMC is expected to cut the Fed Funds rate by 0.25% to 3.50-3.75% on Wednesday. However, the market focus will likely shift to the updated Summary of Economic Projections, particularly the outlook for 2026 and beyond.
"Chair Powell may frame December's move as an insurance cut, citing weaker labour data, but persistent inflation and solid economic growth could raise the threshold for further easing. This may be reflected in tighter convergence in the dot plot, aside from dovish outliers. Interpreting next year's policy remains complex, especially with upcoming Fed leadership changes.
"While the market trusts the committee's independence, shifts in leadership style, external influences, and expansionary fiscal policy could challenge moderates, with stubborn inflation adding to the uncertainty."
In equity markets, WPP was a high riser again, having surged on Tuesday after the advertising giant reportedly secured a major government contract worth around £2bn.
Berkeley Group gained even as the housebuilder posted weaker interim revenues and profits amid a "very challenging" macroeconomic and regulatory environment.
Revenues came in at £1.2bn in the six months to 31 October, down from £1.3bn a year previously, while pre-tax profits fell 7.7% to £254m. However, net cash was £5m higher, at £342m, and net asset value per share rose 5% to £37.63.
The firm also said it remained on track to meet full-year profit guidance.
Ventilation products manufacturer Volution shot up as it said trading in the first four months of FY26 had been positive, and announced the agreed acquisition of Australia's AC Industries for up to AUD$178.9m (£89.5m).
FirstGroup also rallied after saying it had been named as the preferred operator for the London Overground suburban rail network contract by Transport for London.
Market Movers
FTSE 100 (UKX) 9,647.75 0.06%
FTSE 250 (MCX) 21,872.02 -0.17%
techMARK (TASX) 5,556.15 -0.48%
FTSE 100 - Risers
WPP (WPP) 325.60p 2.65%
Fresnillo (FRES) 2,834.00p 2.61%
HSBC Holdings (HSBA) 1,087.20p 1.80%
Pearson (PSON) 1,021.50p 1.69%
Standard Chartered (STAN) 1,697.00p 1.68%
Metlen Energy & Metals (MTLN) 40.92p 1.30%
Scottish Mortgage Inv Trust (SMT) 1,112.00p 1.14%
Berkeley Group Holdings (The) (BKG) 3,620.00p 1.12%
Rio Tinto (RIO) 5,582.00p 0.98%
Sainsbury (J) (SBRY) 315.00p 0.96%
FTSE 100 - Fallers
The Sage Group (SGE) 1,060.00p -2.12%
Kingfisher (KGF) 300.90p -1.63%
Ashtead Group (AHT) 4,725.00p -1.50%
CRH (CDI) (CRH) 9,262.00p -1.47%
Smurfit Westrock (DI) (SWR) 2,654.00p -1.26%
Mondi (MNDI) 854.80p -1.13%
3i Group (III) 3,125.00p -1.08%
Halma (HLMA) 3,588.00p -1.05%
Coca-Cola Europacific Partners (DI) (CCEP) 6,770.00p -1.02%
Phoenix Group Holdings (PHNX) 681.50p -1.02%
FTSE 250 - Risers
Volution Group (FAN) 667.00p 8.81%
FirstGroup (FGP) 183.30p 4.68%
Hochschild Mining (HOC) 452.00p 3.76%
Diversified Energy Company (DI) (DEC) 1,190.00p 1.71%
Ocado Group (OCDO) 198.00p 1.67%
Utilico Emerging Markets Ltd (DI) (UEM) 268.00p 1.52%
Endeavour Mining (EDV) 3,506.00p 1.45%
JPMorgan India Growth & Income (JIGI) 1,048.00p 1.35%
TBC Bank Group (TBCG) 4,095.00p 1.24%
Pinewood Technologies Group (PINE) 370.00p 1.23%
FTSE 250 - Fallers
Kainos Group (KNOS) 1,150.00p -3.36%
Hilton Food Group (HFG) 483.00p -2.72%
C&C Group (CDI) (CCR) 122.20p -2.24%
Moonpig Group (MOON) 207.50p -1.89%
Pantheon Infrastructure (PINT) 105.50p -1.86%
Renishaw (RSW) 3,480.00p -1.83%
Oxford Nanopore Technologies (ONT) 128.30p -1.69%
THG (THG) 44.54p -1.68%
Oxford Biomedica (OXB) 630.00p -1.56%
B&M European Value Retail S.A. (DI) (BME) 156.60p -1.51%
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