London Markets: FTSE 100 ends at 11-week high as pound falls on BOE rate-hike doubts [MarketWatch]
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Source: MarketWatch
FTSE 100 ends at 11-week high as pound falls on BOE rate-hike doubts U.K. stocks advanced for a fourth straight day on Friday, closing at the highest level in about 11 weeks, partly prompted by a drop in the pound after Bank of England Gov. Mark Carney suggested that an interest-rate increase may not come as soon as expected. The FTSE 100 index UKX, +0.54% rose 0.5% to end at 7,368.17, scoring its highest close since Feb. 2 according to FactSet data. For the week, the blue-chip stock gauge rose 1.4%, marking a fourth straight weekly advance. The pound GBPUSD, -0.3409% traded at $1.4030, down from $1.4082 late Thursday in New York. Against the euro, sterling GBPEUR, +0.1140% bought €1.1390, down from €1.1408 in the prior session. Read: Here’s why the pound got whipped this week—and why it may bounce back to $1.44 The pound was a major factor driving the FTSE 100’s direction. Sterling dropped below $1.41 late Thursday after Carney dampened expectations for an interest rate r
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