UK equities rallied on Wednesday on speculation that the ECB will loosen its monetary policy. FTSE soared 1.18% to trade at 5,690.41 at the time of writing. Telecommunications and Financials posted the strongest gains. BT Group and Vodafone surged 0.69% and 2.74% while Barclays and Royal Bank of Scotland rose 0.24% and 1.45%. Meanwhile, Next prolonged its rally, with shares soaring 7.8% as the company announced it expected sales to jump this year. On the downside was oil and gas industry. BP and Tullow Oil dropped 0.19% and 0.93% on low energy prices.