Prospect of MPC cut fuels FTSE trading

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 Insuran...