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London stock futures jump after BoE's rate cut

Published 03/11/2020, 03:25 PM
Updated 03/11/2020, 03:32 PM
London stock futures jump after BoE's rate cut
DE30
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UK100
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EU50
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 11 (Reuters) - London's FTSE 100 futures jumped on
Wednesday after the Bank of England unexpectedly cut interest
rates to shield the economy from the impact of the coronavirus
outbreak.
FTSE futures FFIc1 gained 0.9% after the central bank cut
rates by 50 basis points for the first time since August 2016.
That comes ahead of the unveiling of the first budget of
Prime Minister Boris Johnson's government. New finance minister
Rishi Sunak is expected to pledge billions of pounds to fight
the fall-out from the coronavirus on Wednesday. The central bank move also lifted sentiment in Europe, with
Euro Stoxx 50 futures STXEc1 rising 0.7% and German DAX
futures FDXc1 gaining 0.4%.

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