FTSE rises on rate hopes

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The FTSE 100 index is up 106 points to 4,103 this morning as investors bet on a pending interest rat...

The FTSE 100 index is up 106 points to 4,103 this morning as investors bet on a pending interest rate cut in the US - a bet that already pushed up US stocks on Friday - that is likely to be followed by cuts by the Bank of England and the European Central Bank. Such concerted effort to stave off global deflation would give a kick to corporate profits next year: that is the argument being put forward at present. A rate cut would see cyclical stocks gain faster, which perhaps explains why BSkyB is up 39.5p to 614.5p, on hopes advertising revenues will grow, and 3i Group is up 32....

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