FTSE 100 Rises As BoE Adjusts Capital Requirements For Banks
2024-09-12
2380
(fxcue news) - U.K. stocks traded higher on Thursday after the Bank of England relaxed a proposed overhaul of the banking system.
The implementation of the new bank capital rules has been delayed until 2026, six months later than the central bank said previously.
The benchmark FTSE 100 was up 70 points, or 0.9 percent, at 8,264 after falling 0.2 percent on Wednesday.
Lloyds Banking Group shares rose about 1 percent, HSBC rallied 2 percent and Standard Chartered added 1.2 percent.
Higher base metal prices lifted mining stocks, with Anglo American, Antofagasta and Glencore rallying 3-4 percent.
Rail ticketing app Trainline soared 11.3 percent after posting strong first half results and upgrading its full-year profit guidance.
Housebuilder Barratt Developments rose 2.2 percent, Taylor Wimpey added 1.5 percent and Persimmon gained 1.4 percent after the RICS house price balance survey showed a positive reading for the first time since October 2022 in August.
Online trading firm IG Group Holdings rose 1.3 percent after reporting a jump in revenue in its first quarter.
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