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FX.co ★ FTSE 100 Rises On Rate Cut Hopes

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typeContent_19130:::2024-02-02T09:11:00

FTSE 100 Rises On Rate Cut Hopes

U.K. stocks experienced an increase on Friday, following the Bank of England's hint towards possible reductions in interest rates while seeking further proof regarding the consistent drop in inflation.

Investors are also focusing on the impending announcement of the U.S. January jobs report, with forecasters predicting a minor deceleration in job expansion.

The standard FTSE 100 had risen by 41 points or half a percent, reaching 7,663, despite a slight decline of 0.1 percent on the preceding day.

Shares in Wizz Air Holdings skyrocketed by over 8 percent due to the company's increase in passenger numbers for January as compared to the same timeframe last year. Similarly, competitor EasyJet saw a 3.5 percent rise.

Furthermore, banks have seen an uptick in trade, with Barclays experiencing an increase of almost 3 percent.

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