FTSE 100 watch: Footsie builds on gains after dovish ECB

Micro Focus share price surges as group holds Capital Markets Day

FTSE 100 watch: Footsie builds on gains after dovish ECB

The UK benchmark index has gained ground in today’s session, extending gains as the European Central Bank (ECB) left its monetary policy unchanged and even left the door open to increasing bond purchases. In individual movers, Micro Focus (LON:MCRO) has climbed to the top of the FTSE 100 leaderboard as it holds a capital markets day in the wake of its merger with HPE Software.

As of 14:42 BST, the Footsie had added 53.46 points to stand 0.73 percent higher at 7,407.59, having traded about 0.1 percent higher earlier in the session. The blue-chip index has built on earlier gains as the ECB announced that it would keep interest rates unchanged, while asset purchases are intended to run until the end of the year ‘or beyond, it necessary’.

“If the outlook becomes less favourable [...] the Governing Council stands ready to increase the programme in terms of size and/or duration,” the ECB added.

In individual stock news, Mirco Focus has continued its rally today, as it said that it was hosting a Capital Markets Day. The group’s shares were also in demand yesterday after HPE Software posted better-than-expected third-quarter results. Micro Focus’ share price is currently 3.66 percent up at 2,434.00p.

Imperial Brands (LON:IMB) has been another prominent Footsie riser after announcing that it had trimmed its stake in Madrid-listed Logista and raising gross proceeds of about £230.8 million. Imperial Brands’ shares are currently changing hands 3.47 percent higher at 3,299.00p. AstraZeneca (LON:AZN) meanwhile has added 3.89 percent to 4,754.50p after posting upbeat results from trials of potential respiratory treatments.

The FTSE 100 was 0.70 percent up at 7,405.78 points as of 14:57 BST on Thursday, 07 September 2017.

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