London’s FTSE 100 remained stable on Thursday, as remarks from the U.S. Federal Reserve chairman indicated a less aggressive approach than expected, fostering a global sentiment of caution that restrained any significant increases. The UK’s blue-chip FTSE 100 was up 0.1% by 1043, while the mid-cap FTSE 250 index was little changed.

The Federal Reserve reduced interest rates by 25 basis points in a split decision on Wednesday. However, it indicated that further reductions are improbable in the short term as it seeks more information regarding the labor market. “Despite Powell emphasizing a wait-and-watch strategy, the statement and press conference were not as hawkish as anticipated. .. the door thus remains open for further easing, though at a slower pace,” stated Mohit Kumar. Healthcare stocks on the FTSE 100 provided significant support, with AstraZeneca up 1% and Convatec increasing by 2.6%. Miners gained 0.2%, tracking a rise in copper prices.

However, utilities declined 0.5%, while tech stocks, though not heavily weighted on the benchmark index, slipped by 0.8%. Investors adopted a cautious stance against tech stocks globally following a dour forecast from U.S. cloud firm Oracle, renewing some concerns over valuation and returns on lofty AI investments, which had caused a sell-off in November. Among individual stocks, Entain fell 3.4% to the bottom of the FTSE 100, after the gambling firm announced that International Distribution Services executive Michael Snape will replace current finance chief and deputy CEO Rob Wood next year.

Associated British Foods opened new tab fell 2% as the Primark owner traded without entitlement to its latest dividend payout. RS Group opens new tab topped the FTSE 250 with a 5.7% gain after a rating upgrade from J.P. Morgan, while Ceres Power opens new tab slid 3.5% after Grizzly Research disclosed a short position in the clean-energy firm.