Banking optimism sparks 2% FTSE rally

clock

Updated 2pm: The FTSE posted triple-digit gains in afternoon trading today as renewed optimism about the banking sector buoyed investor sentiment.

London's leading index was up more than 100 points, or almost 2%, at 5,115. Lloyds, RBS and Barclays all advanced more than 4% after the Bank of England today opted to keep interest rates at their historic low of 0.5% for the 16th straight month. Additionally, an IMF report upped its forecast for global growth this year from 4.2% to 4.6%. Sainsbury lost 2.3% following talk of another takeover tilt by the company's Qatari investors. In the US, stocks gained at Thursday's open after a bigger-than-expected drop in jobless claims reassured investors. The Dow Jones advanced almost...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read
Chancellor Khalaf has a plan to make our economy boom

Chancellor Khalaf has a plan to make our economy boom

'So, Sir Keir, if you're reading, I do genuinely hope Rachel is doing okay. And my number's still the same. So, you know, call me'

Laith Khalaf
clock 25 July 2025 • 5 min read