Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (1333)	11/8/2001 8:19:59 AM
From: AugustWest	Respond to of 23786

FTSE 100 keeps slim gains after BoE rate cut LONDON, Nov 8 (Reuters) - Britain's FTSE 100 index held onto slim gains at midday on Thursday after a 50-basis point interest rate cut by the Bank of England, a larger cut than most economists had expected. The benchmark index was up 22.9 points or 0.44 percent to 5,239.2 by 1215 GMT, little changed from the level before the cut and testing resistance at 5,250 after six days of gains which have taken the index to two-month highs. ``A quarter point had been expected and people had been hoping for half a point, so in that regard it's good news. But it means we're unlikely to get another one next month,'' one dealer said. The Bank of England cut its benchmark repo rate to a 37-year low of 4.0 percent, in a bid to insulate the country from the threat of global recession, after a half-point rate cut by the U.S. Federal Reserve. Industry leaders had called on the MPC to cut rates by a half-point but most economists had expected a more cautious quarter-point move. The market was now waiting to see whether the European Central Bank would follow suit with a rate cut later in the day. biz.yahoo.com Monkey see monkey do!