FTSE 100 watch: Footsie stays in the red after BoE rate decision

Compass share price rallies after group’s results

FTSE 100 watch: Footsie stays in the red after BoE rate decision

The UK benchmark index has fallen deep into the red in today’s session, following a downbeat lead from the US, staying firmly in negative territory following the Bank of England’s (BoE) rate decision and inflation report. Compass Group (LON:CPG) meanwhile has spiked to the top of the FTSE 100 leaderboard after updating investors on its performance.

FTSE 100 in the red

As of 12:15 GMT, the Footsie had lost 76.03 points to stand 1.04 percent lower at 7,203.39, giving up most of the previous session’s gains, following a downbeat lead from the US. Blue-chip miners are currently leading the index lower, with BHP Billiton (LON:BLT) having given up 3.58 percent to 1,458.00p as the sector’s biggest faller in percentage terms.

The index has remained in negative territory after the BoE disclosed that its Monetary Policy Committee (MPC) had voted unanimously to maintain the interest rate at 0.5 percent.

“The Committee judges that, were the economy to evolve broadly in line with the February Inflation Report projections, monetary policy would need to be tightened somewhat earlier and by a somewhat greater extent over the forecast period than anticipated at the time of the November Report,” the BoE said in the statement.

Individual movers

In individual stock news, shares in Compass Group have jumped after the blue-chip group said in a trading update that its organic revenue for the three months to December 31 had grown by 5.9 percent, and that the outlook for 2018 was positive. Compass’ share price currently stands 4.51 percent higher at 1,501.75p.

The FTSE 100 was 0.94 percent down at 7,210.80 points as of 12:39 GMT on Thursday, 08 February 2018.

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