21st December 2011
The massive liquidity boost announced by the European Central Bank (ECB) today (December 21st) has helped the FTSE 100 to show gains in afternoon trading.
Proactive Investors reports the record €489.2 billion (£408.4 billion) cash injection by the ECB has resulted in the UK's blue chip index gaining 0.25 per cent (13 points) on yesterday's close.
However, the latest meeting of the Bank of England's Monetary Policy Committee has halted any further gains, as its members unanimously voted against a UK economic stimulus package.
"Fundamentally Europe is still in a fairly precarious position and one of the biggest concerns for sentiment this week is the threat of a credit rating downgrade for France," analyst at forex.com Chris Tedder told the news provider.
Earlier this week, the FTSE 100 dipped slightly on Tuesday despite the positive news of a significant Spanish bill sale, enabling the country to achieve lower than expected rates on its borrowings.
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