FTSE 100 Rises 0.5%; BoE Leaves Interest Rate Unchanged
(RTTNews) - The U.K. stock market's benchmark index FTSE 100 climbed higher on Thursday, in line with the trend in other major markets in Europe as oil prices declined and bond yields dropped. Investors also took note of the Bank of England's decision to leave interest rates unchanged.
Brent crude futures fell to $102.85 a barrel before recovering to $103.45, still down by about 2.25% from previous close.
On Wednesday, the Federal Reserve raised its interest rate by 25 basis points and signalled another increase later this year. The hawkish stance of the Fed resulted in a drop in oil prices and a pause in bond sell-off.
The Bank of England has left its interest rate unchanged at 3.75%, in line with expectations, for the sixth time in a row. Three out of nine Monetary Policy Committee members backed a 25 basis points hike to push policy rates to 4%.
The FTSE 100 was up 54.70 points or 0.5% at 10,743.17 a little while ago.
SSE, Computacenter, Halma, Rolls-Royce Holdings, Kingfisher, Diploma, 3i Group, Antofagasta, Hiscox, Weir, The Sage Group, Aberdeen Group, IMI, Coca-Cola HBC, Aviva, BT Group, AstraZeneca, Scottish Mortgage and HSBC Holdings gained 1%-2.2%.
Marks & Spencer drifted lower by 2.1% and JD Sports Fashion dropped 1.25%. Reckitt Benckiser, Centrica, Haleon, Fresnillo, BP, Smith & Nephew and Glencore shed 0.4%-0.7%.
Bank Of England Holds Rate Steady At 3.75%
Philly Fed Index Pulls Back Much Less Than Expected In September
U.S. Housing Starts Unexpectedly See Further Downside In August
U.S. Weekly Jobless Claims Unexpectedly Decrease
Bay Street Looks Headed For Positive Start
French Stocks Rise On Weak Oil, Lower Yields Post-Fed Rate Hike
German Stocks Rise As Oil Declines, Bond Yields Fall
