BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were moving higher on Thursday as U.S. Democratic presidential challenger Joe Biden neared the magic number of 270 electoral votes needed to win the White House and the Bank of England increased its monetary stimulus by a bigger-than-expected 150 billion pounds ($195 billion).
Brexit talks also remained in focus, with Michel Barnier, EU's leader Brexit representative, tweeting that trade negotiations so far failed to agree on the level playing field on issues such as fishing access rights.
The Bank of England expanded its asset purchase program and retained its record low interest rate as the economy entered a second lockdown.
Policymakers said they stand ready to take further actions if necessary to help the economy recover and ensure that inflation returns to 2 percent target.
In economic releases, there was a renewed fall in the U.K. permanent job placements in October as greater uncertainty over the outlook amid rising Covid-19 infections weighed on hiring activity, the latest KPMG and REC Report on Jobs revealed.
The benchmark FTSE 100 was up 11 points, or 0.2 percent, at 5,894 after rising 1.7 percent the previous day.
AstraZeneca edged up slightly. The company said it expects results from the late-stage trials on its experimental Covid-19 vaccine later this year.
Supermarket group J Sainsbury fell 2.7 percent after announcing it plans to cut 3,000 jobs.
Derwent London advanced 1.6 percent. The real estate investment trust said that office rent collection for the September quarter day increased to 89 percent from 83 percent when last reported on 13 October 2020.
Hikma Pharma rallied 3.4 percent after launching Icosapent Ethyl Capsules in the U.S.
Copyright RTT News/dpa-AFX