After the U.S. Senate passed a debt default deal, the U.K.’s FTSE 100 surged, and Dechra Pharmaceuticals’ shares rose to a two-week high.
Dechra (DPH.L) surged 8.2% after EQT agreed to buy it for 4.46 billion pounds ($5.62 billion), lifting the domestically oriented FTSE 250 (.FTMC) 0.7%.
After the U.S. raised its $31.4 trillion debt ceiling and investors hoped the Federal Reserve would hold rates, the internationally focused FTSE 100 (.FTSE) rose 0.5%, reflecting global investor confidence.
Energy exporters (.FTNMX601010) and industrial metals miners (.FTNMX551020) rose 1.3% and 2.2%, respectively, as commodity prices rose.
If losses continue, the FTSE 100 might fall for a second week. On the other hand, mid-cap FTSE 250 will rise somewhat.
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