BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The FTSE-100 benchmark of the London Stock Exchange remained cautious in Thursday's trade ahead of the monetary policy review and the interest rate review decision by the Bank of England. Markets expect a quarter percent rate hike by the BoE, which would be a third consecutive raise in the policy rates. Markets would also be looking for the central bank's response to the developments following the Russian invasion of Ukraine, on projections of growth and inflation. Also keenly watched would be the forward guidance on balance sheet reduction.
FTSE 100 oscillated between 7260.51 and 7336.64, versus the previous close of 7291.68. The benchmark index of the London Stock Exchange is currently trading at 7300.48, up 0.12 percent on an overnight basis.
In the 100-scrip index, 52 scrips have declined over Wednesday's levels.
Entain is the top gainer with a 2.88 percent uptick. Smurfit Kappa Group, Diageo and Scottish Mortgage Investment Trust, have all rallied more than 2 percent.
Ocado group dropped more than 8 percent after reporting a drop in sales as well as a slashing of growth forecasts. M&G also lost close to 5 percent.
Lloyds Banking group is the most active scrip with a turnover of 60 million. The scrip has lost 0.49 percent.
The GBPUSD pair surged by 0.43 percent to 1.3202 amidst the Dollar Index dropping to 98.23 from 98.62.
Yields on U.K.'s ten-year bonds eased to 1.6195 percent from Wednesday's close of 1.6290, in sync with the global decline in yields.
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