London Stocks Gain Ahead of Bank of England Rate Cut Expectations

London stocks advanced on Thursday ahead of an anticipated Bank of England interest rate cut, driven by inflation slowdown and economic growth concerns. The FTSE 100 rose 0.3%, while the midcap FTSE 250 increased 0.36%. Struggles in precious metals and healthcare limited gains, despite retail and aerospace strength.

London stocks demonstrated upward momentum on Thursday, as investors awaited a potential interest rate cut from the Bank of England. This move comes amid significant reductions in inflation and indications of economic deceleration.

The FTSE 100, a prominent index representing blue-chip companies, rose by 0.3% at 1013 GMT, building on gains from the previous trading session. Meanwhile, the midcap FTSE 250 index advanced by 0.36%. In contrast, Europe's pan-regional index remained stable ahead of an expected rate-hold decision by the European Central Bank.

In the equities market, retailer Currys made remarkable strides with a 10.3% increase following substantial first-half profit reports. Despite upward trends in some sectors, including aerospace and retail, the overall rise was tempered by declines in precious metals and healthcare stocks.

(With inputs from agencies.)