FTSE 100 Rises 0.5%; BoE Leaves Interest Rate Unchanged

(RTTNews) - The U.K. stock market's benchmark index FTSE 100 climbed higher on Thursday, in line with the trend in other major markets in Europe as oil prices declined and bond yields dropped. Investors also took note of the Bank of England's decision to leave interest rates unchanged. Brent crude futures fell to $102.85 a barrel before recovering to $103.45, still down by about 2.25% from previous close. On Wednesday, the Federal Reserve raised its interest rate by 25 basis points and signalled another increase later this year. The hawkish stance of the Fed resulted in a drop in oil prices and a pause in bond sell-off. The Bank of England has left its interest rate unchanged at 3.75%, in line with expectations, for the sixth time in a row.