U.K. shares edge higher as BOE to announce new round of asset purchases

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Source: Dukascopy Bank SA
U.K. shares climbed on speculation the Bank of England policy makers will launch a new round of asset purchases to bolster the economic growth in Britain. The FTSE 100 Index rallied 0.3%, or 16.79 points, to 6,444.43. Six out ten groups edged higher. Aggreko Plc. posted biggest gains in the index, as it rallied 3.6% after increasing its dividend for 2012 and forecasting a strong revenue growth for the next five years. IMI Plc followed with a 3.9% surge to pace gains in industrial shares that were 1.1% higher. Meggit Plc., an engineering group that specializes in aerospace, defense and electronics products, added 2.9%, also supporting industrials. On the downside, Aviva Plc. that skimmed 11.5% to cap gains in financials, as the U.K.'s second-biggest insurance company cut its dividend by 44%. Melrose Industries tumbled 3% to halt further surge in industrials, while Polymental International erased 2.2%.


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Thu, 07 Mar 2013 17:56:05 GMT

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