FTSE 100 Modestly Higher Ahead Of BoE Policy Announcement

RTTNews | 64 days ago
FTSE 100 Modestly Higher Ahead Of BoE Policy Announcement

(RTTNews) - U.K. stocks are modestly higher on Thursday as investors await the Bank of England's monetary policy announcement later in the day. Optimism about U.S. agreeing on a trade deal with a major country is also aiding sentiment.

The BoE is widely expected to lower interest rates by 25 basis points amid fears of U.S. tariffs hitting domestic growth.

Optimism on the trade front has increased after the U.S. President Donald Trump said that he would soon announce "a major trade deal with representatives of a big and highly respected country."

According to reports, Trump is likely to announce a framework of a trade deal with the U.K. Meanwhile, representatives of the U.S. and China are set to meet in Switzerland this weekend for trade talks.

Investors are also digesting the Federal Reserve's policy announcement. On Wednesday, the Fed held its interest rates and also warned of increasing risks of higher unemployment and higher inflation.

The benchmark FTSE 100 was up 36.45 points or 0.43% at 8,595.78 a few minutes before noon.

IMI is gaining more than 5.5%. Mondi, Weir Group, Melrose Industries, Whitbread, Intermediate Capital Group, Spirax, JD Sports Fashion, Intercontinental Hotels Group, Rolls-Royce Holdings, Scottish Mortgage and Polar Capital Technology Trust are up 3 to 4.2%.

Associated British Foods, Ashtead Group, Antofagasta, Persimmon, Kingfisher, Barclays and Experian are gaining 2 to 3%.

Airtel Africa is down 7.4% despite turnaround results. The telecommunications and mobile money services company reported full year 2025 profit -before-tax of $661 million compared with pre-tax loss of $63 million last year. Earnings per share for the full year were 6 cents versus loss per share of 4.4 cents last year.

Centrica is declining more than 6%. Fresnillo, AstraZeneca, Vodafone Group, Rio Tinto, Severn Trent, Endeavour Mining, Imperial Brands and BT Group are down 1 to 3%.

On the economic front, UK house prices rose moderately in April despite an end to the stamp duty holiday and worsening economic outlook, data published by mortgage lender Halifax revealed.

House prices climbed 0.3% on a monthly basis in April after falling for two straight months. Prices were expected to grow 0.2%, following a 0.5% drop in March and a 0.2% decrease in February. On a yearly basis, growth in house prices accelerated to 3.2% from 2.9% in the previous month.

read more
Swiss Market Ends Sharply Lower

Swiss Market Ends Sharply Lower

The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
RTTNews | 1h 22min ago
European Stocks Close Weak As Trade War Fears Hurt Sentiment

European Stocks Close Weak As Trade War Fears Hurt Sentiment

European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
RTTNews | 1h 38min ago
Canadian Market Remains Weak On Tariff Concerns

Canadian Market Remains Weak On Tariff Concerns

After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
RTTNews | 2h 18min ago
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
RTTNews | 6h 1min ago
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 6h 8min ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 6h 31min ago
Yen Retreats Amid US-Japan Trade Uncertainty

Yen Retreats Amid US-Japan Trade Uncertainty

The Japanese yen retreated from early highs against other major currencies in the European session on Friday, amid concerns on US-Japan relations in light of Trump's placement of a 25 percent tariff on Japanese exports this week, which will go into force on August 1.
RTTNews | 7h 20min ago