London Market: Rate hopes buoy the market FINAL Edition

UK STOCKS are likely to rise this week, led by Lloyds TSB and other banks, as well as Diageo, Siebe and other exporters on optimism that the Bank of England will cut interest rates. UK bonds are expected to be little changed. The Bank of England's Monetary Policy Committee will meet on Wednesda...

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Bibliographic Details
Published inIndependent (London, England : 1986)
Main Author Nadja Hahn and Jeff Brooks
Format Newspaper Article
LanguageEnglish
Published London (UK) Independent Digital News & Media 01.11.1998
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Summary:UK STOCKS are likely to rise this week, led by Lloyds TSB and other banks, as well as Diageo, Siebe and other exporters on optimism that the Bank of England will cut interest rates. UK bonds are expected to be little changed. The Bank of England's Monetary Policy Committee will meet on Wednesday and Thursday, after which the Bank is expected to cut the base rate to 7.00 per cent from 7.25 per cent. The FT-SE 100 index on Friday rose 79.9 points, or 1.49 per cent to 5,438.4, its highest since 26 August and its fourth gain last week. Almost four stocks rose for every one that fell. The index has rallied 16 per cent since touching a low for the year on 5 October. It gained 4.2 per cent last week.
ISSN:0951-9467