The FTSE 100 index closed up 5.3 points today at 4,413.4 after UK stocks rose paced by Barclays and Reed Elsevier Group.
As widely expected, the Bank of England increased interest rates by another quarter-point to 4.75%, in hopes it would dampen accelerating inflation.
Barclays rose 10p to 480p after the bank announced net income increased 24% to a record £1.72bn.
Friends Provident also gained half a penny to 135.5p after saying first-half profit rose 25%.
Reed Elsevier, publisher of the Lancet and other scientific journals, jumped 7.5p to 483.5p.
Water companies led today’s gains Severn Trent rose 15.5p to 811.5p, and United Utilities added 17.5p to 528p.
Anglo American rose 6p to 1,192p as the mining company’s profit more than doubled in the first half of this year, boosted by higher prices for copper and platinum.
British Sky Broadcasting Group added 21p to 509p. The pay-television company regained some of the losses it made yesterday when it announced it would have to boost spending to try to encourage growth.
Sage Group advanced 0.75p to 164.5p after an analyst at Merrill Lynch & Co. upgraded the company’s shares to “buy” from “neutral”.
Across the Atlantic, trading is currently down as the Dow Jones Industrial Average index so far has lost 76.62 points to 10,049.89.
The S&P 500 index is down 9.71 points to 1,088.92 and Nasdaq's Composite index has so far shed 18.49 points to 1,836.57.IFAonline
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