Fresh hopes that the Bank of England will launch another round of stimulus measures lifted London’s leading shares index today.
The FTSE 100 Index rose 36 points to 5,622.3 after minutes from the Bank revealed that policymakers failed to back more quantitative easing by the slimmest of margins last month.
Miners and financial stocks were among the biggest risers on the back of the stimulus speculation, with Polymetal International ahead 4%, or 33.5p at £9.40 and Hargreaves Lansdown up 5%, or 22.6p at 518.5p.
ITV shares were 3% higher as investors continued to speculate about possible private equity interest in the broadcaster and stockbroker Panmure Gordon issued a note reiterating its buy rating. Shares were 2.3p higher at 76.5p.
Premier Inn and Costa coffee group Whitbread continued its ascent after a strong trading update triggered a 6% rise in its share price yesterday. It was up another 92p to £20.59 today.
Other big Footsie risers included Sage up 14p at 267.5p and Aviva ahead 12.5p at 279.1p.
A number of stocks were trading without the right to their most recent dividend payment, with Severn Trent the biggest faller, £1.15 lower at £16.34 and United Utilities down 13.5p at £6.56.
Among other big fallers were Petrofac off 57p at £14.55 and Morrisons down 3.4p at 272.9p.
Outside the top flight, Argos owner Home Retail Group fell 5% – undoing some of its 24% gain from yesterday – after HSBC downgraded the stock to neutral from overweight. The shares were down 4.9p at 87p.
Elaine McLachlan, of investment manager and financial planning specialist Brewin Dolphin in Inverness, noted Weir Group gaining 3.7% to £15.58, A.G. Barr up 3.4% at 428.4p and Johnston Press rising 3.1% to 4.9p.
Scottish fallers included Superglass down 3.7% to 12.5p and Optos off 2.1% at 182.1p.