The FTSE 100 Index Closes 1.20% Higher

The FTSE 100 Index went up by 129 points or 1.20 percent on Thursday to close at 10817 points. The rise was led by Endeavour (3.66%), SSE (3.64%) and Anglo American (3.58%).

The FTSE 100 rose 1.2% to above 10,815 on Thursday, reaching its highest level in more than a week after the Bank of England kept interest rates unchanged at 3.75%, as widely expected. The central bank warned that rates could need to rise if inflationary pressures intensify as a result of the conflict in the Middle East. Six of the nine policymakers, including Governor Andrew Bailey, voted to maintain the current rate, leaving the committee split along the same lines as in July. Gains were broad-based, led by Rolls-Royce, which advanced 2.8%, while HSBC rose 1.8%. Healthcare stocks also performed strongly, with AstraZeneca up 2.2% and GSK gaining 1.9%. Miners were among the biggest risers, with Endeavour and Antofagasta climbing 3.7% and 3.6%, while Anglo American also gained more than 3% and Fresnillo added 2.8%. Next rose 2.8% after raising its full-year guidance. Oil prices fell for a second consecutive session.

The FTSE 100 gained ground and rose 0.5% to the 10,750 mark on Thursday after the Bank of England maintained its rate unchanged, as expected by the City. Three members of the Bank's Monetary Policy Council opted for hikes, also aligned with expectations, as policymakers heeded to the impact of higher energy prices on underlying inflation. In turn, equity liquidity was supported by a softer-than-expected unwinding of the BoE balance sheet, lending support to stocks and Gilts. Financial companies hence led the rise in the session, with HSBC and Standard Chartered gaining over 1% each, while 3i added nearly 2%. Meanwhile, SSE rose over 2% as natural gas costs fell for a second session in wholesale markets. Lastly, Next rose 1% after citing a modest improvement in sales expectations and additional cost savings, particularly in warehousing.