FTSE Moves: London market continues rising in wake of Bank's stimulus package

The London market lifted in afternoon trading as top flight stocks still basked in the glow of the cheap money handed to investors yesterday as part of the Bank of England stimulus package.

The FTSE 100 Index was up 44.5 points to 6784.6, after the Bank halved interest rates among a range of measures designed to stop the economy sliding into recession amid slowing indicators following the UK's Brexit vote. The FTSE 250 Index was up 213 points to 17457.3.

Cheaper access to cash tends to favour market investors.

Trustnet Direct market analyst Tony Cross said: "Yesterday's positivity for equities off the back of the Bank of England's stimulus efforts continues to buoy the FTSE 100, with the London blue chip index once again breaking out to fresh highs for the year."

However, Royal Bank of Scotland, fell 13.7p to 178.3p, after it swung to a larger-than-expected loss in the first half of its financial year, due to hefty litigation and conduct costs.

The lender, which is majority owned by the taxpayer, posted an attributable loss of £2.04bn compared with £179m a year ago.

In afternoon trading the biggest risers on the FTSE 100 Index were Hikma Pharmaceuticals (+179p to 2399p), Paddy Power Betfair (+295p to 9125p), Barratt Developments (+12.1p to 437.5p), Berkeley Group (+84p to 2666p) and Persimmon (+54p to 1726p).

The biggest fallers on the FTSE 100 Index were Royal Bank of Scotland (-13.7p to 178.3p), Fresnillo (-56p to 1898p), Randgold Resources (-220p to 8415p), Rolls-Royce (-15p to 742.5p) and Standard Chartered (-12.5p to 633.5p).

In afternoon trading the biggest risers on the FTSE 250 Index were Ibstock (+12.4p to 154.5p), Cairn Energy (+13.3p to 195p), IP Group (+9.5p to 161.5p), NCC Group (+18.9p to 345.9p) and Bellway (+114p to 2143p).

The biggest fallers on the FTSE 250 Index were esure (-11.9p to 268.2p), Acacia Mining (-25p to 568.5p), AO World (-3.5p to 141.4p), Hochschild Mining (-6.5p to 281.2p) and Centamin (-3.3p to 166.6p).