FTSE 100 Rises As Pound Slips Ahead Of BoE Rate Decision
U.K. stocks rose slightly to hit another record high on Wednesday while the British pound slipped before the Bank of England's policy announcement on Thursday.
There's little expectation of an immediate cut, but investors are looking for a clearer signal on whether the central bank plans to start cutting interest in the summer.
The benchmark FTSE 100 was up 27 points, or 0.3 percent, at 8,341 after climbing 1.2 percent on Tuesday.
AstraZeneca rallied 1.6 percent. The drug maker said it has initiated a process to withdraw its Vaxzevria COVID-19 vaccine worldwide, citing weak demand and the surplus availability of new vaccines.
Oil & gas giant BP Plc fell over 2 percent, a day after reporting a 45 percent drop in Q1 earnings.
Real estate investment trust Workspace Group declined 1.7 percent after appointing Lawrence Hutchings as its CEO designate.
Informa jumped 2.3 percent. The publishing and exhibitions company has lifted its share buyback program by 50 percent after a strong start to 2024.
Lender HSBC Holdings gained more than 1 percent as it announced the anticipated launch of four separate offers to purchase for cash any and all of the four series of notes.
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