Oil ticks higher on cuts of Chinese interest rates

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Source: Marketwatch

Oil futures gained on Thursday as Chinese reserve bank decreased its interest and deposit rates by 25 basis points. Petroleum for July delivery inched higher by $1.31, a 1.6 per cent increase, to $86.34 a barrel.

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Thu, 07 Jun 2012 19:00:26 GMT

The Bank of England left key interest rate unchanged

The Bank of England has not changed benchmark interest rate for 39 months in a row, leaving it at 0.50%, which is in line with expectations. The central bank also announced that it will maintain purchases of assets at the same level of GBP325 billion, after a GBP50 billion expansion back in February.

Thu, 07 Jun 2012 18:38:31 GMT

FTSE 100 adds 2% on Burberry and Tullow Oil

UK FTSE 100 index traded substantially higher on Thursday helped by Burberry Group and Tullow Oil. Bank of England kept interest rate unchanged. Investors also awaited Fed chairman's speech. Burberry rallied 6% after Credit Suisse upgraded its share from neutral to outperform. Tullow Oil accelerated 4.2% after company said it has discovered oil in deep-water well in Côte d'Ivoire. Chemicals

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