Saturday, February 23, 2013

Easing Hopes Aid U.K. Stocks

British stocks gained as hope mounted for more monetary-policy easing by the Bank of England, but markets elsewhere in Europe edged lower.

The Stoxx Europe 600 index fell 0.3% to close at 289.07, retreating after a 1.1% rally on Tuesday, while London's FTSE 100 jumped above 6400 for the first time since January 2008, slipping back to close 0.3% higher at 6395.37. It was the highest closing value since Jan. 3, 2008.

At a Bank of England meeting this month, three out of nine policy makers voted in favor of increasing the central bank's asset-purchase program by �25 billion ($38.6 billion), up from just one member in January, minutes from the gathering showed. In January, only one member voted in favor of more easing.

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