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FX.co ★ FTSE 100 Rises As BoE Adjusts Capital Requirements For Banks

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typeContent_19130:::2024-09-12T10:25:00

FTSE 100 Rises As BoE Adjusts Capital Requirements For Banks

On Thursday, U.K. stocks saw an uptick following the Bank of England's decision to ease proposed reforms to the banking system.

The implementation of the new bank capital rules has been postponed to 2026, a delay of six months from the central bank's earlier timeline.

The FTSE 100 index climbed 70 points, or 0.9 percent, reaching 8,264, rebounding from a 0.2 percent decline on Wednesday.

Lloyds Banking Group's shares increased by approximately 1 percent. Meanwhile, HSBC surged 2 percent, and Standard Chartered rose by 1.2 percent.

Mining stocks benefited from higher base metal prices, with Anglo American, Antofagasta, and Glencore climbing between 3 and 4 percent.

Trainline, a rail ticketing application, soared by 11.3 percent after releasing robust first-half results and revising its full-year profit forecast upwards.

In the housebuilding sector, Barratt Developments rose by 2.2 percent, Taylor Wimpey gained 1.5 percent, and Persimmon went up by 1.4 percent. This followed the RICS house price balance survey, which showed a positive reading for the first time since October 2022 in August.

Additionally, IG Group Holdings, an online trading firm, advanced by 1.3 percent after reporting increased revenue in the first quarter.

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