FX.co ★ FTSE 100 Pares Some Gains After BoE Decision

London’s FTSE 100 traded 0.8% higher around 10,910 points on Thursday, trimming some of its earlier gains, after the Bank of England raised interest rates for the first time in more than three years, in line with expectations. Sentiment remained supported by easing bond yields and lower oil prices, following the Democrats’ victory in the US, which boosted hopes for an end to the Iran war.

In corporate news, precious metals miners Fresnilo, Endeavour and Hochschild all advanced, supported by higher gold and silver prices. Banks also gained ground, with Standard Chartered up 2.7%, HSBC 1.2%, Barclays 1.6% and Lloyds 0.7%.

Among individual movers, Next rose 2.7% after upgrading its sales outlook, while Diageo climbed 2.6% on an unexpected increase in first-quarter sales.