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FTSE 100 Rises On Buzz Rates May Have Peaked
(RTTNews) - U.K. stocks traded higher on Thursday to hover near one-week high as bond yields pulled back on expectations that interest rates may have peaked.
The Bank of England is now predicted to make only one more increase to Bank Rate on Sept 21 despite inflation staying high.
The benchmark FTSE 100 was up 30 points, or 0.4 percent, at 7,350 after rising 0.7 percent on Wednesday.
AstraZeneca edged up slightly after its prostate-cancer treatment Lynparza received approval in Japan.
Recruiter Hays was marginally higher after naming a new CEO.
Power generation company Drax Group fell over 1 percent after naming a chair designate.
Harbour Energy declined 1.4 percent after narrowing its full-year production guidance to the lower end of the range.
Hunting plunged 7.6 percent. The oil services firm said it was further restructuring its operating footprint and disposing non-core exploration and production assets in a bid to cut costs.
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U.S. Weekly Jobless Claims Unchanged At 248,000
