FTSE Moves: Footsie rises on eve of Fed interest rate vote

Blue chip stocks rose for the second session in a row in afternoon trading on the eve of interest rate announcements by the US Federal Reserve and the Bank of Japan.

The Fed is widely expected to keep interest rates unchanged tomorrow, while investors are uncertain whether the BoJ will cut rates again even after taking them into negative territory for the first time earlier this year.

The FTSE 100 Index lifted 40.3 points to 6,854, following a rise of more than 100 points yesterday adding around £25bn ($32bn, €29m) to top flight stocks. The FTSE 250 Index rose seven points to 17,896.8.

Spreadex financial analyst Connor Campbell said: "With little else to do the markets continued to climb this Tuesday, in another sign that investors aren't expecting much from Fed chair Janet Yellen tomorrow evening." Cheaper borrowing rates favours investors.

Sports Direct, rose 3.6p to 285.6p, after it pledged to carry out an independent review of the troubled retailer's working practices and corporate governance, following concerns raised by shareholders.

Aberdeen Asset Management head of corporate governance Paul Lee said: "There is much more work to be done but hopefully today is the first step on the long journey to rebuild investor trust and to rectify the problems at Sports Direct."

In afternoon trading the biggest risers in the FTSE 100 Index were Land Securities (+21p to 1,043p), Shire (+106p to 5,289p), Burberry (+26p to 1,357p), CRH (+46p to 2,552p) and TUI (+18p to 1,080p).

The biggest fallers in the FTSE 100 Index were Kingfisher (-9.1p to 367.6p), International Airlines Group (-9.1p to 406.7p), Antofagasta (-7p to 493.6p), easyJet (-14p to 1056p) and Next (-63p to 4977p).

In afternoon trading the biggest risers in the FTSE 250 Index were TalkTalk (+9.7p to 206.7p), GVC Holdings (+26.5p to 748p), Mitie Group (+5.5p to 196.8p), Croda International (+93p to 3401p) and Victrex (+40p to 1541p).

The biggest fallers in the FTSE 250 Index were Regus (-17.8p to 272p), Just Eat (-20.5p to 529.5p), Hunting (-15.5p to 418.6p), Countrywide (-8.1p to 226.3p) and Vedanta Resources (-16p to 506p).