FTSE 100 outshines the rest as BOE turns more dovish

As noted here immediately after the Bank of England left their key base rate on hold yesterday, it was the dovish shift voting split that gave the UK stock markets a further boost. Two prior hawks turned neutral and the governor, Andrew Bailey later added his comments, to suggest there was now a more pressing argument for the BOE to look at lowering rates. This was all just the news the FTSE 100 was dying to hear and it ensured the index enjoyed its best day of the the year so far. The index closed 145 points higher (+1.88%), at 7,882. That gain compared to a 0.91% rise in the DAX and just 0.22% for the CAC 40. The falls in the GBP/USD helped the index too and certainly countered a lack of traction in the oil markets yesterday. The FTSE 100 futures are currently pricing a largely unchanged opening this morning, but shortly we do have some important UK data due out, which will be covered in the very next update.