FTSE 100 climbs on energy, mining stock boost; BoE meeting eyed

London’s FTSE 100 rose on Thursday, led by energy and mining stocks, as investors awaited the Bank of England’s meeting later in the day for inflation outlook and taper timelines following a tilt by the U.S. central bank towards a November easing of its asset purchases.

The blue-chip FTSE 100 gained 0.3% with Glencore , Rio Tinto, BP and Royal Dutch Shell among the top boosts.

Royal Mail Plc climbed 2.1% to be the top FTSE 100 gainer after it forecast a surge in first-half operating profit.

The domestically focussed mid-cap index rose 0.4%.

Britain’s central bank looks set to keep interest rates steady later in the day with its policy decision due at 1100 GMT as it approaches the end-point of its 895 billion pound ($1.22 trillion) asset purchase programme on the backdrop of rising inflation.

London-listed shares of South Africa-based financial services group Investec gained 2.2% after it said it expected an up to 114% rise in half-year profits.

Britain’s Mitchells & Butlers Plc rose 1.4% after it said sales over the past two months had been above pre-pandemic levels.