U.K. stocks rose on Thursday as the pound weakened and investors awaited the Bank of England’s decision on interest rates amid surging inflation.
The central bank last raised its official rate in 2018 and cut it to an all-time low of 0.1 percent at the start of the coronavirus crisis.
The benchmark FTSE 100 rose 29 points, or 0.4 percent, to 7,278 after declining 0.4 percent on Wednesday.
BT Group shares soared 5.7 percent. The telecommunications company confirmed its outlook for this year after reporting a 3 percent decline in first-half revenue.
Supermarket grocer Sainsbury’s tumbled 4.4 percent after warning of price pressures.
Medical products maker Smith & Nephew rallied 3 percent. The medical technology group said it would bring its orthopaedics and sports medicine franchises under one leadership team.
FTSE 100 Gains Ahead Of BoE Rate Decision
2021-11-04 09:45:08
