FTSE 100 hits 12-month high after BoE boost

First move in seven years

The FTSE 100 has reached a 12-month high this morning following the Bank of England's historic move yesterday to cut rates to 0.25%, while also expanding its QE programme with a £60bn government bond and £10bn corporate bond buying package.

The large-cap index is trading at 6,754 this morning and is now up 8.3% since the start of the year, despite volatility around the time of the EU referendum. Shares rose 1.6% in the aftermath of the Bank of England's decision yesterday, which was the first move in interest rates for seven years. Ten historic central bank moves Governor Mark Carney also announced a three-part £170bn stimulus package, which includes £60bn in more government debt buying, £10bn in corporate bond purchases and up to £100bn towards the new Term Funding Scheme for banks. Pharmaceutical firm Hikma was ...