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FTSE 100 closes higher on ECB monetary stimulus policy

Xinhua, September 4, 2015 Adjust font size:

FTSE 100 Index, the British benchmark stock market gauge, Thursday increased by 1.82 percent, or 110.79 points, to 6194.10 points, as the European Central Bank (ECB) maintained its monetary stimulus policy.

The ECB Thursday decided that the interest rate on the main refinancing operations, on the marginal lending facility and the deposit facility would remain unchanged at 0.05 percent, 0.3 percent and minus 0.2 percent respectively.

The central bank also announced the issue share limit would be raised from the initial limit of 25 percent to 33 percent. The adjustment means that ECB could purchase more single issue bonds.

On the same day, Markit Economics Limited said that British services purchasing managers' index (PMI), a gauge of the industry activities, fell to 55.6 in August 2015 from 57.4 in July 2015.

The reading was significantly lower than the market estimates consensus of 57.7. It was also the lowest reading over the past two years.

Commodities trader Glencore led the top gainers of London blue chips with a gain of 6.64 percent.

Anglo American, easyJet, Morrison Supermarkets and BHP Billiton increased by 6.03 percent, 5.38 percent, 4.72 percent and 4.27 percent respectively.

Only four out of the 101 component index closed lower, with Weir Group's share price dropped by 1.12 percent, topped the losers of the blue chips.

Share prices of RSA Insurance Group, G4S and GKN declined by 0.20 percent, 0.12 percent and 0.11 percent respectively.

Trading volume in FTSE 100 companies was around 10 percent smaller than the 30-day average. And the index has lost 2.66 percent so far this year.

The broader FTSE All-Share Index gained 1.67 percent. Endit