(For a live blog on European stocks, type LIVE/ in an Eikon news window)
* FTSE 100 up 0.3%, FTSE 250 flat
Aug 12 (Reuters) - London's FTSE 100 rose on Wednesday as investors counted on the central bank to further loosen monetary policy after data showed the economy entered a recession in the second quarter with a record 20% plunge in output.
The UK's GDP figures showed the sharpest contraction among the world's biggest economies, but there were signs of a recovery in June following the easing of coronavirus-driven lockdowns. day before the data was released, Bank of England Deputy Governor Dave Ramsden said the central bank would step up quantitative easing if the economy slowed again and that he was "confident" there would be no further quarters of negative growth. Admiral ADML.L jumped 5% to the top of the FTSE 100 after reinstating its special dividend and posting higher first-half profit.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.