FTSE gains continue after Bank of England announcement

FTSE gains continue after Bank of England announcement

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The FTSE 100 Index continued to move ahead at the opening of trading on Friday, building on large gains made after Bank of England boss Mark Carney signalled that interest rates could be slashed over the summer.

London’s top tier was up 0.45%, or 29 points, in morning trading to hit 6,533.

On Thursday, the FTSE 100 closed at its highest level since last August following Mr Carney’s announcement.

But the prospect of rates being cut from their already historic low of 0.5% continues to drag on sterling, which was lingering at 1.33 US dollars, a cent lower than before the Bank’s intervention.

The FTSE 250, a better barometer of UK sentiment, was up 77 points but still down over 5% over the week.

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