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Nov 30 (Reuters) – The FTSE 100 rose on Wednesday, helped by consumer discretionary and energy stocks, although investors were cautious ahead of a speech by the U.S. Federal Reserve chair later in the day.
The blue-chip FTSE 100 (.FTSE) rose 0.3% by 0821 GMT and was on track for its best month in two years.
Consumer discretionary shares such as Flutter Entertainment ( FLTRF.L ) rose 2.1% after JP Morgan raised the company’s price target.
Energy stocks (.FTNMX601010) took the early lead, rising 0.2% as crude oil prices were boosted by falling US crude inventories and a weaker greenback.
A falling US dollar makes commodities cheaper for foreign currency holders.
All eyes were on Fed Chair Jerome Powell’s speech on the economic outlook and labor market later at an event at the Brookings Institution, where investors were looking for clues about the central bank’s future monetary policy path.
The domestically focused FTSE 250 Midcap Index (.FTMC) climbed 0.3%.
In single stocks, Home REIT Plc (HOMEH.L) rose 7.5% after the housing provider for the homeless said it was financially strong, dismissing allegations about its finances raised by a short seller.
Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya N Thoppil
Our Standards: The Thomson Reuters Trust Principles.
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