London stocks set for weekly gains; Smith+Nephew rises on rating bump

Nov 3 - Britain's benchmark FTSE 100 index advanced on Friday and was on track for weekly gains, as medical products maker Smith+Nephew shares rose on a rating upgrade, while Bank of England's decision to hold interest rates further lifted sentiment.

Rate sensitive stocks climbed as the BoE held interest rates at a 15-year peak of 5.25% on Thursday, but said it did not expect to cut them any time soon. The medical equipment and services index climbed 2.7% to lead sectoral gains, lifted by a 3.8% jump in Smith+Nephew after broker JP Morgan raised the stock to"Overweight" from"Neutral".Top sectoral decliner oil and gas lost 0.8% as crude supply concerns driven by the Middle East conflict eased and top importer China's demand outlook remained uncertain.

British electricals retailer Currys agreed to sell its Greek business Kotsovolos to Public Power Corporation for an enterprise value of 175 million pounds .

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

HSBC Takes Stab at Using Blockchain to Modernize London’s Antiquated Gold MarketOne of the world’s top bullion banks is bringing blockchain to the antiquated London gold market.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

HSBC launches tokenized gold platform for the London gold marketHSBC has announced the launch of a platform that utilizes blockchain technology to tokenize the ownership of gold held in its London vault in a bid to evolve the gold market.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Stock market news today: Stocks rise as Fed holds rates steadyIn a move widely expected by investors, the Federal Reserve opted to hold interest rates steady at their latest meeting on Wednesday,
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: Stocks rally, tech surges after Fed leaves rates unchangedIn a move widely expected by investors, the Federal Reserve opted to hold interest rates steady at their latest meeting on Wednesday,
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: US futures rise as investors bet on end to Fed hikesInvestors are betting the Fed is done with its rate-hiking campaign, taking heart from Chair Jerome Powell's comments.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »