London’s markets finished lower on Thursday despite the Bank of England holding interest rates for the first time since 2021, which weighed on the value of the pound.
The central bank voted to keep rates 5.25 per cent, ending a run of 14 consecutive hikes, providing a boost to retail and housebuilder stocks. However, the improvement largely faded throughout the rest of the session in the face of weaker global trading sentiment. The FTSE 100 moved 0.69 per cent, or 53.03 points, lower to finish at 7,678.62.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “The Bank of England has finally pushed the big red pause button, prompting a rush of relief for companies and consumers bearing the brunt of higher borrowing costs.score the biggest price jump after a strong set of results. The high street chain said it is on track to deliver a rise in full-year profits as its shoppers remain “resilient” despite wider consumer spending woes.
Euro zone bond yields rose to multiple-month highs after the U.S. Federal Reserve and the Bank of England kept rates unchanged but flagged more hikes could come as the central banks continue to worry about inflation.Nasdaq led declines in key Wall Street indexes on Thursday as a jump in Treasury yields knocked down growth stocks after the Federal Reserve signaled that another rate hike was in the offing this year.fell between 1.