U.K. stocks were modestly higher on Thursday, with earnings optimism and hopes of a swifter global economic recovery offering some support.
The monetary policy announcement and the quarterly economic and inflation projections are due from the Bank of England later in the day.
The central bank is expected to keep its interest rate unchanged near zero, avoiding a reduction to negative territory at the February meeting.
The bank is also set to maintain the size of quantitative easing at GBP 895 billion. The announcement is due at 7.00 am ET.
The benchmark FTSE 100 edged up 17 points, or 0.3 percent, to 6,525 after closing 0.1 percent lower the previous day.
Housebuilder Barratt Developments jumped 2.9 percent after achieving “a fantastic first half performance,” according to its Chief Executive.
Oil giant Royal Dutch Shell edged down slightly after it reported a net loss of almost $21.7 billion in 2020.
Consumer goods giant Unilever slumped 4.3 percent after its underlying sales rose 3.5 percent in the fourth quarter in line with estimates.
Britain’s biggest broadband and mobile operator BT Group edged down slightly, giving up earlier gains after saying it was on track to meet full-year forecasts.
Market Analysis
FTSE 100 Modestly Higher On Recovery Hopes
2021-02-04 09:40:05
