FTSE 100 Holds on to Gains
London's FTSE 100 traded 0.8% higher around 10,910 points on Thursday, after the Bank of England lifted interest rates for the first time in over three year, as widely expected. Market sentiment remained supported by easing bond yields and lower oil prices, after the Democrats' victory in the US raised prospects of an end to the Iran war. On the corporate front, precious metals miners Fresnilo, Endeavour and Hochschild all advanced, amid higher prices of gold and silver. Standard Chartered (2.7%), HSBC (1.2%), Barclays (up 1.6%), Lloyds (0.7%) continued to trade higher. Meanwhile, Next gained 2.7% after upgrading its sales outlook, while Diageo rose 2.6% after reporting an unexpected first-quarter sales growth.
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London's FTSE 100 traded 0.8% higher around 10,910 points on Thursday, after the Bank of England lifted interest rates for the first time in over three year, as widely expected. Market sentiment remained supported by easing bond yields and lower oil prices, after the Democrats' victory in the US raised prospects of an end to the Iran war. On the corporate front, precious metals miners Fresnilo, Endeavour and Hochschild all advanced, amid higher prices of gold and silver. Standard Chartered (2.7%), HSBC (1.2%), Barclays (up 1.6%), Lloyds (0.7%) continued to trade higher.
Meanwhile, Next gained 2.7% after upgrading its sales outlook, while Diageo rose 2.6% after reporting an unexpected first-quarter sales growth.