FTSE 100 watch: Equities hold gains as BoE, ECB leave rates unchanged

on Mar 6, 2014
Updated: Apr 9, 2020

iNVEZZ.com, Thursday, March 6: Today, both the Bank of England (BoE) and the European Central Bank (ECB) left their key interest rates unchanged. The FTSE 100 has found support in strong updates from Aviva (LON:AV) and Schroders (LON:SDR) although Ukraine-related concerns have kept a lid on the index’s gains.

FTSE 100 up as BoE holds rate
As of 13:06 UTC, the UK’s benchmark index had added 17.55 points to be 0.26 percent up at 6,792.97.
As expected, the BoE’s Monetary Policy Committee (MPC) today voted to maintain the bank rate at 0.5 percent and to keep its asset purchase target at £375 billion. The BoE also announced it would start reinvesting the cash flow from its bond purchases, starting next week. The ECB also left its benchmark interest rate unchanged at 0.25 percent.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Earlier today, Reuters quoted traders as saying that a steady performance was healthy in the medium term and should support a future rise.
“Prices have entered into a consolidation phase but remain supported by the key support threshold at 6640,” Nicolas Suiffet, technical analyst at Trading Central, told Reuters.
Worries over Ukraine however have kept index’s gains in check with the Crimean parliament voting to join the Russian Federation.

**Individual movers**
The standout Footsie winner today has been Aviva, whose shares surged after the insurer posted a good set of results reflecting the ongoing turnaround at the group. (Aviva share price: Operating profit rises 6% as turnaround gathers pace) Aviva’s share price is currently 9.53 percent up at 510.54p.

Another top FTSE 100 performer has been temporary power provider Aggreko (LON:AGK), with the company promising to return £200 million to shareholders in June following a year of strong cash generation. (Aggreko share price soars despite profit drop) As of 13:08 UTC, Aggreko’s share price had added 6.42 percent to 1,674.00p.

Shares in Schroders have also advanced after the fund manager unveiled record levels of revenue, profit and assets under management in 2013. (Schroders share price jumps on record 2013 results) Schroders’ share price has gained 4.13 percent to 2,697.00p so far today.
Shares in IMI (LON:IMI) have posted a hefty decline today with the engineer forecasting lower first-half operating margins. The company however reported eight percent growth in pre-tax profit. (IMI share price dips despite annual profit growth) IMI’s share price is currently 5.49 percent down at 1,463.00p.
**The FTSE 100 was 0.29 percent up at 6,794.99 points as of 13:13 UTC on March 6, 2014.**


Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

Learn more
Energy & Power Finance & Banking Indices Stock Market