FTSE 100 watch: Footsie stays little changed as BoE leaves rates on hold

ITV share price outperforms as group starts year well

FTSE 100 watch: Footsie stays little changed as BoE leaves rates on hold

The UK benchmark index has been little changed in today’s session, with investors digesting the Bank of England’s (BoE) move to keep interest rates on hold, as well as a string of corporate releases. In individual movers, ITV (LON:ITV) has been one of today’s most prominent FTSE 100 risers after updating investors on its first-quarter performance.

FTSE 100 little changed

As of 13:01 BST, the Footsie had added 0.06 points to stand at 7,662.58, flat in percentage terms. The blue-chip index has been little changed after the BoE kept rates unchanged, while noting that “an ongoing tightening of monetary policy over the forecast period would be appropriate to return inflation sustainably to its target at a conventional horizon”.

The Guardian quoted Tom Stevenson, investment director for Personal Investing at Fidelity International, as pointing out that the BoE had pulled another U-turn, having hinted in February that rates would rise today.

“Mark Carney really is the ‘unreliable boyfriend’. Leaving the base rate at 0.5% – what was once thought of as an emergency rate – is another big U-turn for the Bank of England governor,” Stevenson said.

Individual stock moves

In individual stock news, ITV’s share price has added 4.30 percent to 157.70p after the blue-chip broadcaster revealed a five-percent rise in total external revenue in the first quarter. The group’s chief executive Carolyn McCall noted that the group had “started the year well both on and off screen”.

RBS (LON:RBS) has been another prominent Footsie riser, having jumped 2.79 percent to 283.80p, with investors cheering the lender’s preliminary mortgage settlement with the US Department of Justice. At the other end of the spectrum has been BT (LON:BT.A), whose shares have given up 8.87 percent to 217.65p following the group’s strategy update and fourth-quarter results.

The FTSE 100 was 0.03 percent up at 7,665.16 points as of 13:16 BST on Thursday, 10 May 2018.

Top Equities Brokers

0 Brokers added for comparison:
Clear all