FTSE 100 Stable After Fed Rate Cut; MICC Gains, ENT Falls

The FTSE 100 held steady on Thursday, trading flat following the U.S. Federal Reserve’s latest policy move. 

The pan-European STOXX 600 edged 0.1% higher, while Germany’s DAX was unchanged and France’s CAC 40 rose 0.5%.

Markets are absorbing the Fed’s decision to cut interest rates for a third straight meeting, lowering the federal funds target range to 3.5%-3.75%. The move had been widely anticipated.

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However, U.S. index futures are pointing lower after Oracle’s earnings, which failed to ease the AI bubble fears.

In London, the FTSE’s biggest riser was MICC, up 3%, followed by Ashtead Group with a 2.5% gain and ConvaTec rising 2.2%.

At the other end of the index, Entain dropped 2.2% after announcing a leadership transition. The sports betting and gaming group said Rob Wood will step down as Group Chief Financial Officer and Group Deputy CEO in 2026 after 13 years at the company. 

Michael Snape has been appointed to succeed him, joining as CFO Designate in February 2026 before formally taking over and joining the board on 6 March 2026. Wood will remain until June to support an orderly handover.

Elsewhere, PZ Cussons scrapped plans to sell its Africa business, while energy company Drax outlined plans to develop a data centre at its Yorkshire site as it seeks to diversify into digital infrastructure.