FTSE up amid hopes over debt crisis
The FTSE 100 Index was 19.2 points higher at 5732.1, even though the US Federal Reserve disappointed markets by failing to signal more stimulus measures on Wednesday night.
It is likely that the ECB will resume bond buying in an effort to reduce Spain's borrowing costs.
In corporate news, shares in BAE Systems were more than 1% down after a fall in half-year revenues raised concerns about prospects in some of its key defence markets. The stock slipped 5.8p to 306.6p, despite profits meeting expectations.
Ladbrokes shares were 2.3p higher at 157p after a better-than-expected 11% rise in operating profits but Thomas Cook shares were lower after a wider third quarter loss offset recent encouraging signs on trading as more Britons opted to escape the poor weather by booking overseas trips. Shares slipped 0.75p to 16p.
- FTSE rises amid hope of bank action
- Deutsche Bank earnings slump 46%
- ECB chief's euro pledge cheers FTSE