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| Pound slips after Bank of England minutes | |
| (4 months later) | |
| (Close): The pound slid on news that all Bank of England policymakers voted to hold rates this month, pushing back expectations of when rates will rise. | (Close): The pound slid on news that all Bank of England policymakers voted to hold rates this month, pushing back expectations of when rates will rise. |
| In recent months, Martin Weale and Ian McCafferty have voted to raise rates, but the switch means analysts no longer expect a rate rise this year. | In recent months, Martin Weale and Ian McCafferty have voted to raise rates, but the switch means analysts no longer expect a rate rise this year. |
| The pound fell 0.26% against the dollar to $1.5105 and dropped 0.46% against the euro to €1.3053. | The pound fell 0.26% against the dollar to $1.5105 and dropped 0.46% against the euro to €1.3053. |
| The benchmark FTSE 100 index was up 107.94 , or 1.63%, 6728.04. | The benchmark FTSE 100 index was up 107.94 , or 1.63%, 6728.04. |
| Commenting on the Bank's vote, Martin Beck, senior economic adviser to the EY Item Club, said: "Today is a confirmation that there is very little prospect of any rate hike this year with the two arch hawks of the MPC voting to maintain the status quo. | Commenting on the Bank's vote, Martin Beck, senior economic adviser to the EY Item Club, said: "Today is a confirmation that there is very little prospect of any rate hike this year with the two arch hawks of the MPC voting to maintain the status quo. |
| "We have been predicting that the first rate rise will come in Q1 next year, but that could now be even later." | "We have been predicting that the first rate rise will come in Q1 next year, but that could now be even later." |
| On the stock market, the top gainer was First Group with a gain of 7%. | On the stock market, the top gainer was First Group with a gain of 7%. |
| Pearson shares rose 5% after the firm - which publishes the FT - said earnings for 2014 would be at the top end of forecasts, while earnings this year were expected to rise. | Pearson shares rose 5% after the firm - which publishes the FT - said earnings for 2014 would be at the top end of forecasts, while earnings this year were expected to rise. |
| SABMiller shares rose 3% after the brewing giant reported an increase in third quarter sales. | SABMiller shares rose 3% after the brewing giant reported an increase in third quarter sales. |
| Shares in Dixons Carphone made a strong start to the day following its latest update, but then gave up the gains to be 0.5% lower by the close of play. | Shares in Dixons Carphone made a strong start to the day following its latest update, but then gave up the gains to be 0.5% lower by the close of play. |
| The company reported a 7% in like-for-like sales in the nine weeks to 3 January, and now expects to report full-year pre-tax profits of £355m to £375m, above its previous forecast of £354m. | The company reported a 7% in like-for-like sales in the nine weeks to 3 January, and now expects to report full-year pre-tax profits of £355m to £375m, above its previous forecast of £354m. |
| Shares in Sports Direct fell 6% after the retailer's founder, Mike Ashley, reduced his stake in the company to 55%. | Shares in Sports Direct fell 6% after the retailer's founder, Mike Ashley, reduced his stake in the company to 55%. |