FX.co ★ FTSE 100 Modestly Higher As Bailey Hints At Aggressive Rate Cuts

U.K. stocks climbed on Thursday, while the British pound weakened, following statements from Bank of England Governor Andrew Bailey suggesting a potential shift towards a "more aggressive" approach to interest rate cuts, contingent upon continued positive inflation metrics.

In an extensive interview with the Guardian, Bailey indicated the possibility that the Bank might adopt a more assertive strategy with rate reductions.

Additionally, the U.K. Services PMI finalized at 52.4 for September, a decline from August's figure of 53.7.

The main market index, the FTSE 100, rose by 26 points, or 0.3%, reaching 8,317, after a 0.2% increase the previous day.

Shares of British Land Company fell by 0.7% after the property firm announced the acquisition of a portfolio comprising seven retail parks for a sum of 441 million pounds.

Tesco experienced a significant rise of 3.1%. The supermarket group adjusted its annual profit forecast upwards following improved profits and revenues during the first half of the fiscal year.

Telecom Plus saw a 0.7% increase, reporting continued strong growth in customer numbers in its first-half update.