U.K. Stocks Retreat as Caution Sets in Before Fed Rate Decision

Fed Decision-Day: Weighing the Impact

The FTSE 100 Index fell, snapping two days of gains, before a landmark decision later today from the Federal Reserve.

Smiths Group Plc fell 4.2 percent, posting the biggest decline in the U.K. benchmark, after after peer Rotork Plc forecast full-year sales that was below analysts’ estimates. Weir Group Plc slumped 2.6 percent. Sinclair IS Pharma Plc soared 17 percent after a report the company may be a takeover target.

The FTSE 100 lost 0.7 percent to 6,186.99 at the close in London. Trading has been volatile as investors await the Fed’s decision on whether it will raise rates for the first time in almost a decade. The broader FTSE All-Share Index fell 0.6 percent today, while Ireland’s ISEQ Index dropped 0.6 percent.

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