Banks in demand as UK rates rise, Boohoo slumps on profit warning
London’s FTSE 100 closed Thursday’s session 1.25% higher at 7,260.61, the blue chip benchmark taking the Bank of England’s surprise interest rate hike from 0.1% to 0.25% in its stride, despite sterling gaining as a result.
Around 70% of the FTSE’s constituents earn in foreign currencies so a rising pound is negative for them.
The central bank was widely expected to keep rates on hold ...