STOCKS BOUNCE

The FTSE 100 has opened well over 1.5% higher in London on Thursday, after the US Federal Reserve voted to raise interest rates for the first time in 9 years late on Wednesday.

The Fed doubled its benchmark interest rate from 0.25% to 0.5%, “given the economic outlook, and recognising the time it takes for policy actions to affect future economic outcomes.”

That sent US stocks surging and Asian markets followed suit. European markets are mirroring this rise Thursday morning too.

The FTSE 100 is up 77.72 or 1.28% at 6,138.91 at 8.13 a.m. GMT (3.13 a.m. ET), slightly off its earlier highs.

NOW WATCH: Jim Cramer told us about his ‘vicious’ daily routine which starts at 3:45 AM and doesn’t end until after 11:30 PM

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.