AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 132.75 Increased By ▲ 3.22 (2.49%)
BOP 6.87 Increased By ▲ 0.19 (2.84%)
CNERGY 4.58 Decreased By ▼ -0.05 (-1.08%)
DCL 8.91 Decreased By ▼ -0.03 (-0.34%)
DFML 42.85 Increased By ▲ 1.16 (2.78%)
DGKC 84.60 Increased By ▲ 0.83 (0.99%)
FCCL 33.00 Increased By ▲ 0.23 (0.7%)
FFBL 76.51 Increased By ▲ 1.04 (1.38%)
FFL 12.20 Increased By ▲ 0.73 (6.36%)
HUBC 110.25 Decreased By ▼ -0.30 (-0.27%)
HUMNL 14.42 Decreased By ▼ -0.14 (-0.96%)
KEL 5.56 Increased By ▲ 0.17 (3.15%)
KOSM 8.30 Decreased By ▼ -0.10 (-1.19%)
MLCF 39.70 Decreased By ▼ -0.09 (-0.23%)
NBP 65.98 Increased By ▲ 5.69 (9.44%)
OGDC 199.00 Decreased By ▼ -0.66 (-0.33%)
PAEL 26.15 Decreased By ▼ -0.50 (-1.88%)
PIBTL 7.62 Decreased By ▼ -0.04 (-0.52%)
PPL 159.30 Increased By ▲ 1.38 (0.87%)
PRL 26.15 Decreased By ▼ -0.58 (-2.17%)
PTC 18.50 Increased By ▲ 0.04 (0.22%)
SEARL 81.90 Decreased By ▼ -0.54 (-0.66%)
TELE 8.13 Decreased By ▼ -0.18 (-2.17%)
TOMCL 34.48 Decreased By ▼ -0.03 (-0.09%)
TPLP 9.02 Decreased By ▼ -0.04 (-0.44%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.70 Decreased By ▼ -1.62 (-2.64%)
UNITY 27.55 Increased By ▲ 0.12 (0.44%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,627 Increased By 220.4 (2.12%)
BR30 31,916 Increased By 203 (0.64%)
KSE100 98,938 Increased By 1609.8 (1.65%)
KSE30 30,786 Increased By 593.7 (1.97%)

The UK’s FTSE 100 inched up on Friday as investors continued to cheer the dovish tilt in the Bank of England’s monetary policy, while insurer Phoenix Group led gains after its annual results.

The blue-chip FTSE 100 rose 0.7% by 0909 GMT, hitting a more than 11-month high.

The index was set for its second consecutive week of gains, powered by a near 2% rise on Thursday after the BoE said the economy is moving in the direction for interest rate cuts.

“We are getting increasing talk about rate cuts in the near future … the (US inflation) uptick in recent weeks is not going to prevent central banks from cutting interest rates,” said Lilian Chovin, head of asset allocation at British private bank Coutts.

Meanwhile, the pound fell to its lowest in a month after data showed UK consumer spending stagnated in February and BoE Governor Andrew Bailey said rate cuts were in play this year, boosting dollar-earners on the benchmark index.

FTSE 100 slips as luxury, bank stocks weigh

Most sectors rose, with telecommunications rising 2% and leading gains.

Precious metals miners were down 1.5%, tracking the dip in spot gold prices.

Phoenix Group jumped 9.3% and led gains on the FTSE 100 after the insurer said it aimed to generate operating cash of 1.4 billion pounds ($1.77 billion) and pay down 500 million pounds in debt by 2026.

JD Sports fell 4.5% after its US counterpart Nike warned that its revenue in the first half of fiscal 2025 would shrink by a low single-digit percentage.

Meanwhile, the mid-cap FTSE 250 index edged up 0.1%, with gains limited by an 8.8% fall in Darktrace after a technology growth fund advised by private equity firm KKR fully exited its investment in the cybersecurity firm.

Comments

Comments are closed.