FTSE 100 jumps as investors digest Bank of England rate decision
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The FTSE 100 climbed this afternoon as investors digested the Bank of England’s decision to hold rates at a record low.
The capital’s premier index gained 0.56 per cent in afternoon trading to reach 7,113.
A weaker pound helped to the lift the export-heavy blue chip index.
Food delivery company Just Eat gained 2.19 per cent despite news of a ban on junk food adverts before 9pm in the UK.
Property related stocks continue to benefit from the UK housing market running hot as a result of the stamp duty holiday. Property search site Rightmove gained 1.62 per cent, while housebuilder Berkeley added 1.17 per cent after a strong set of results.
Read more: Bank expects inflation to breach target and shoot above three per cent
The gains come after the Bank of England decided to hold UK interest rates at a record low 0.1 per cent despite concerns about inflation intensifying among investors.
The junior all-share AIM index added 0.56 per cent in afternoon trading, while the mid-cap FTSE 250 was down 0.58 per cent to 22,578.
Winners and losers
The afternoon’s biggest winner was Flutter Entertainment, the bookmakers, which climbed 3.1 per cent.
Following closely behind in second and third were miner Anglo American and Royal Mail, adding 2.71 per cent and 2.52 per cent respectively in afternoon trading.
The afternoon’s worst performer was Vodafone, sliding 3.72 per cent.
Steel maker Evraz ranked as the second worst performer, dragged down 3.42 per cent, triggered by relations between Moscow and London deteriorating after warning shots were fired at British Royal Navy destroyer.
United Utilities ranked as the third worst performing stock, slipping 3.25 per cent.
Around the world
The strong performance in London was reflected across the pond with both US flagship indices opening higher to reach record highs.
The S&P 500 added 0.55 per cent and the NASDAQ Composite climbed 0.81 per cent in morning trading.
Meanwhile, European stocks contributed to the global rally, with the Euro Stoxx 600 gaining 0.89 per cent this afternoon.
Japan’s Nikkei edged up to 28,875, while Hong Kong’s Hang Send ticked up to 28,882.
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