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FTSE 100 uplifted by bank stocks ahead of Draghi talk

FTSE

Stocks in the U.K. rose Thursday, as investors waited for word on what the European Central Bank will do next on monetary policy.

The FTSE 100 UKX, +0.54% rose 0.5% to 6,883.66 as all sectors logged gains.

The strongest performer was Micro Focus International PLC MCRO, +16.11% , whose shares rallied 18% after Hewlett Packard Enterprise Co. HPE, +1.05% said it will spin off and merge its software operations with those of the British company in an $8.8 billion (£6.59 billion) deal.

Markets will be on the lookout for the ECB’s policy announcement later in the day. Investors have become increasingly convinced President Mario Draghi will extend the bank’s asset-buying program beyond March 2017, but there are still questions as to whether that move will be made Thursday.

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Paul

The author Paul