British equities opened higher on Thursday, buoyed by expectations of a rate cut by the European Central Bank, while mining firm Antofagasta added to the gains.
By 7:07 GMT, the blue-chip FTSE 100 edged up 0.1% to 8,258.58 points, poised for a second consecutive day of gains, while the pound held steady at $1.2796. The mid-cap FTSE 250 was up 0.3%.
Investors await the ECB’s monetary policy decision, due at 1215 GMT, while remarks from the central bank’s president, Christine Lagarde, will be scrutinized for clues on the interest rate trajectory.
On Wednesday, the Bank of Canada led the charge among G7 nations by initiating its rate easing cycle.
The Bank of England is poised to align closely with the ECB’s forthcoming rate action.
Britain’s central bank is scheduled to convene in two weeks.
London stocks fall as energy stocks drag
Among individual stocks, John Wood Group surged 9% after the oilfield services and engineering firm said its board has decided to engage with Sidara on a sweetened takeover proposal.
Antofagasta was the top gainer on the FTSE 100 with a 2.5% jump after the miner signed a $1.5 billion investment deal to improve water supply at its Chile mining operations.
Vodafone Group and National Grid were the top losers on the benchmark index as it traded without entitlement to its latest dividend payouts.
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