FTSE 100 Trades In Positive Zone

(RTTNews) - FTSE 100 of the London Stock Exchange traded cautiously in the green zone, alongside other regional peers. Sentiment was subdued as the Bank of England is widely expected to raise rates by 50 points next week to tame the double-digit inflation. Chancellor Jeremy Hunt's speech setting out the long-term vision for the economy also swayed sentiment.

FTSE 100 oscillated between 7,777.19 and 7,749.38 versus the previous day's closing level of 7,761.11.

The benchmark index of the London Stock Exchange is currently trading at 7,772.35, up 0.15 percent on an overnight basis.

In the 100-scrip index, 43 are trading in the overnight red zone, reflecting the weak market sentiment.

J Sainsbury rallied 3.8 percent following reports that British convenience store operator Bestway Group Ltd purchased a more than 3 percent stake in the grocer. BP and Shell also gained more than 2 percent.

Rolls Royce declined more than 3 percent following revelations from the new CEO's comments on the future of the engineering group.

Flutter Entertainment and Smurfit Kappa also declined close to 2 percent.

The GBP/USD pair decreased 0.31 percent to trade at 1.2368.

Yields on U.K.'s ten-year bonds increased 2.1 percent to 3.3880% from the previous close of 3.3180%.