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FTSE 100 up 0.1%, FTMC down 0.1%
HSBC, StanC climb after BofA upgrade
Media stocks rise after JPMorgan’s bullish views
Dec 10 (Reuters) - UK shares were mixed on Wednesday, as investors refrained from placing big bets ahead of the U.S. Federal Reserve’s interest rate decision.
The benchmark index FTSE 100 (.FTSE) rose 0.1% by 1103 GMT, while the midcap FTSE 250 index (.FTMC) dipped 0.1%, mirroring broader caution across European markets ahead of the Fed’s widely expected 25-basis-point rate cut.
London-listed lenders HSBC (HSBA.L) and Standard Chartered (STAN.L) rose about 2% each after BofA Global Research upgraded their shares to “buy” and “neutral”, respectively.
Shares of education company Pearson (PSON.L) and business information group RELX (REL.L) climbed 1% and 3.9%, respectively, after J.P. Morgan named the companies its top picks in the media sector, saying European media stocks have lagged due to “misplaced concerns.”
Overall, markets were sanguine, as traders awaited the Fed’s decision at 1900 GMT and the UK’s October GDP data, which is due on Friday.
Signs of easing inflation and weakening labour market have pushed traders to price in a 25 bps rate cut from the Bank of England next week, with further cuts seen next year.
Among individual stocks, ventilation products supplier Volution Group (FAN.L) rose 4.7% after it acquired Australia-based AC Industries.
FirstGroup (FGP.L) added 5.5% after the transport operator was named the preferred bidder for London’s Overground suburban rail network in a contract worth around 3 billion pounds over an initial eight-year term.
Berkeley (BKGH.L) rose 2.7% after the homebuilder maintained its annual guidance and voiced confidence in the long-term outlook for London, its key market, despite reporting a drop in half-year profit.

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UK stocks showed mixed performance as investors awaited the Fed's interest rate decision. FTSE 100 rose 0.1%, while FTSE 250 dipped 0.1%. HSBC and Standard Chartered climbed after BofA upgrades. Media stocks rose following JPMorgan's bullish views. Volution Group and FirstGroup saw significant gains. Traders expect a 25 bps rate cut from the Bank of England next week.

UK stocks mixed as investors await Fed rate decision