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FTSE 100 increases by 0.61 pct on ECB's stimulus

Xinhua, March 6, 2015 Adjust font size:

FTSE 100 Index, British benchmark stock market gauge, Thursday increased by 0.61 percent, or 41.90 points, to 6951.41, as the European Central Bank's stimulus policy lifted the market sentiment.

Mario Draghi, President of the European Central Bank (ECB), confirmed Thursday that the ECB's 1.1 trillion euro quantitative easing program will begin on March 9. ECB also raised its euro zone growth projections for 2015 and 2016 to 1.5 percent and 1.9 percent, from one percent and 1.5 percent respectively.

On the same day, British insurers Aviva and Friends Life Group announced the better-than-expected financial results for the year 2014. The good news improved the sector's performance, underpinning the merry sentiment of the market.

The Bank of England (BoE) Thursday voted to keep its main interest rate Bank Rate unchanged at 0.5 percent, and quantitative easing (QE) policy at 375 billion pounds (or 570 billion U.S. dollars).

Friends Life Group's share price increased by 7.07 percent, topping the gainers of the blue chips.

Prices of Aviva, Schroders, Standard Life and Admiral advanced by 7.05 percent, 4.75 percent, 4.44 percent and 3.77 percent respectively.

Mining giant Rio Tinto led the top losers of the blue chips with a share price drop of 2.88 percent, followed by HSBC Holdings (2.64 percent), International Consolidated Airlines Group (1.32 percent), Ashtead Group (1.31 percent) and BG Group (1.13 percent).

Trading volume in FTSE 100 companies was slightly higher than the 30-day average. And the index has gained 6.85 percent so far this year in U.S. dollar term. Endit