FTSE 100 Rises as Oil Prices Drop, Fed Rate Hike Supports Sentiment

The FTSE 100 index in the UK stock market rose by about 0.4% on September 17, driven by falling oil prices and relative stability in global bond markets.

Falling oil prices have eased fears of energy supply problems and inflation issues, benefiting industries sensitive to energy costs.

The US Federal Reserve's decision to hike its benchmark interest rate by 25 basis points to 3.75%-4% has also boosted market sentiment, despite ongoing concerns about inflation.

Next, a major retail chain in the UK, saw its shares jump almost 2% after revising its earnings estimate upwards due to increased sales during the warm summer months.