Stimulus Check – FTSE 100 eases as investors await BoE rate decision
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Aug 5 (Reuters) – London’s FTSE 100 eased on Thursday, weighed by heavyweight bank stocks, as investors look ahead to the Bank of England’s rate setting meeting for cues on the central bank’s asset purchase plans.
The Bank of England is expected to keep its huge support for Britain’s economy running at full speed later in the day. However, it might also start to lay out its plan for how it will eventually reverse its stimulus.
The blue-chip FTSE 100 index eased 0.1%, dragged down by bank shares and oil stocks .
Limiting gains on the main index, British engine-maker Rolls-Royce jumped 3.3% to the top of the FTSE 100, after saying it was on track to meet its forecasts for 2021.
The domestically focussed mid-cap index fell 0.2%, with gold miner Centamin being the top drag after it posted a 39% fall in first-half pretax profit.
Reporting by Shashank Nayar in Bengaluru; Editing by Amy Caren Daniel