FX.co ★ FTSE 100 Rises to Over 1-Week High

The FTSE 100 rose 1.2% on Thursday to above 10,815, its highest level in more than a week, after the Bank of England left interest rates unchanged at 3.75%, in line with expectations. The central bank cautioned, however, that borrowing costs may need to rise if inflationary pressures intensify as a result of the conflict in the Middle East.

Six of the nine Monetary Policy Committee members, including Governor Andrew Bailey, voted to hold rates steady, leaving the split unchanged from July.

Gains were broad-based. Rolls-Royce led the advance with a 2.8% rise, while HSBC added 1.8%. Healthcare stocks also outperformed, with AstraZeneca up 2.2% and GSK 1.9%.

Miners were among the strongest performers: Endeavour and Antofagasta climbed 3.7% and 3.6% respectively, Anglo American gained more than 3%, and Fresnillo rose 2.8%. Next gained 2.8% after raising its full-year guidance.

Meanwhile, oil prices fell for a second consecutive session.