July 11, 2019 / 7:26 AM / 7 months ago

FTSE 100 rebounds from 4-day losing streak on Fed rate cut hopes, Reckitt settlement

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* FTSE 100 up 0.2%, FTSE 250 up 0.3%

* Fed Chair’s comments reinforce rate cut bets

* Reckitt among top gainers on main index

* Drugmaker Indivior surges after forecast upgrade

July 11 (Reuters) - London’s main index snapped a four-day losing streak on Thursday as comments from the U.S. central bank reinforced bets of an interest rate cut and lifted broader sentiment, while Reckitt gained after agreeing to a settlement with U.S. authorities.

The FTSE 100 added 0.2%, with the biggest support from oil majors. The mid-cap FTSE 250 rose 0.3% by 0707 GMT.

Federal Reserve Chairman Jerome Powell on Wednesday said the central bank was prepared to “act as appropriate” to counter a threat to the economy from the effects of a trade dispute with China and disappointing factory activity, stoking hopes that the Fed would ease its policy later this month.

Reckitt Benckiser added 2.2% after it agreed to pay up to $1.4 billion to resolve all U.S. federal investigations in connection with the sales and marketing of Suboxone Film by its former unit Indivior.

Indivior gained 24% after it raised its annual profit and revenue forecast in a separate statement as Suboxone lost market share at a lower pace than expected. (Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Bernard Orr)

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