Skip to content
Subscriber Only

British Stocks Rally to Highest Level Since August on BOE Bets

Updated on

U.K. equities posted their biggest three-day jump since 2009 after Mark Carney said the Bank of England will probably have to loosen policy within months to deal with the fallout of the Brexit vote.

The FTSE 100 Index jumped 2.3 percent on Thursday, reversing an earlier drop of as much as 0.8 percent, after BOE Governor Carney said in his second televised address since the country voted to leave the European Union that the central bank won’t hesitate to act to safeguard the economy and the resilience of the financial system. That took the gauge’s three-day surge to 8.7 percent. A total of 80 of its companies climbed, even as Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc fell more than 2.6 percent.