There is strong UK trading in anticipation of the Bank of England Monetary Policy Committee's meetin...
There is strong UK trading in anticipation of the Bank of England Monetary Policy Committee's meeting later this morning and the prospect of an interest rate cut.
Stock movements are already being influenced by the US Federal Reserve's decision to cut its own rate yesterday by 50 basis points to 1.25%.
However, it is some of the biggest names, including BT and Royal & SunAlliance, have helped to lift the FTSE 100 22.10 points or 0.5% to 4125.80.
BT rose 6p or 3.2% to 194.25p after the group said it returned to a fiscal second-quarter profit.
Royal & Sun Alliance Insurance Group also gained 9p or 7.6% to 127p after declaring it will not now sell new stock to cover a £600m shortfall.
Despite yesterday's rate cut, the US market did not do too well, and has today affected trading in the Far East.
Japanese stocks fell after Cisco Systems yesterday revealed Q2 sales may drop for the first time in a year. Unsurprisingly, Sony was one of the first companies to lose ground.
The Nikkei 225 lost 0.4% to 8920.44, but the rate cut did at least help the Taiwanese index, which has spurred on by the prospect of increased business in the US.
The Singapore Straits Times Index slid 1.5%, hit by computer-releated stocks such as Creative Technology.
Elsewhere, indices in South Korea and New Zealand fell, while those in Hong Kong and Thailand climbed.
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