FX.co ★ FTSE 100 Snaps 3-Day Losing Streak

On Wednesday, the FTSE 100 edged higher, breaking a three-day losing streak following Tuesday's 0.9% decline. Marks & Spencer was a standout performer, surging over 4% after data revealed an 8.5% increase in food sales for the 12 weeks leading up to September 6, surpassing expectations. Additionally, the autumn fashion line was well received. Centrica climbed more than 3.5% after Morgan Stanley upgraded the stock to 'overweight,' citing it as their top UK utility choice due to its capital investments in projects such as Sizewell C and the Grain LNG terminal. Barratt Developments saw a 2.5% gain as adjusted profits exceeded expectations, although the company noted uncertainties related to budgetary constraints. Conversely, AstraZeneca experienced a 0.7% decline after its asthma medication, Fasenra, failed a second trial for COPD. On the economic front, the UK Consumer Price Index (CPI) remained steady at 3.8% year-over-year in August, consistent with July's 18-month high and in line with forecasts. This, along with stable employment data, left Bank of England interest rate forecasts largely unchanged, with only an 8 basis point reduction anticipated by the year's end. Investors are now focused on the Federal Reserve's anticipated 25 basis point rate cut later today.