London’s FTSE 100 was up 1.4% at 7,267.48 in afternoon trade on Thursday.
Banks were on the rise after the Bank of England voted 8-1 to lift interest rates from a historic low of 0.1% to 0.25%.
This marked the first time the Bank has raised interest rates since the start of the pandemic and came a day after figures from the Office for National Statistics showed that consumer price inflation surged to a 10-year high of 5.1% in November, coming in at more than double the Bank’s 2% target.
The BoE voted unanimously to maintain the amount of quantitative easing at £895bn.
Lloyds, Standard Chartered, HSBC and Barclays all rallied.
On the downside, United Utilities and B&M European Value Retail were both lower as they traded without entitlement to the dividend.
FTSE 100 – Risers
Darktrace (DARK) 420.80p 5.57%
Hargreaves Lansdown (HL.) 1,367.00p 4.83%
Ocado Group (OCDO) 1,708.00p 4.46%
Lloyds Banking Group (LLOY) 46.10p 3.93%
Rightmove (RMV) 772.00p 3.51%
Standard Chartered (STAN) 427.40p 3.24%
Royal Mail (RMG) 499.10p 3.23%
Smiths Group (SMIN) 1,540.00p 3.18%
HSBC Holdings (HSBA) 446.00p 3.17%
Barclays (BARC) 182.00p 3.13%
FTSE 100 – Fallers
United Utilities Group (UU.) 1,078.50p -3.53%
B&M European Value Retail S.A. (DI) (BME) 614.20p -2.66%
SEGRO (SGRO) 1,382.00p -2.57%
National Grid (NG.) 1,034.00p -2.36%
Bunzl (BNZL) 2,869.00p -1.98%
Croda International (CRDA) 10,135.00p -1.94%
British Land Company (BLND) 506.20p -1.75%
Severn Trent (SVT) 2,883.00p -1.67%
Hikma Pharmaceuticals (HIK) 2,197.00p -1.35%
Experian (EXPN) 3,525.00p -1.18%
