YP’s Carney interview boosts pound

THE pound was boosted today after Bank of England governor Mark Carney signalled there was no case for more quantitative easing.
By The Newsroom
Published 27th Sep 2013, 11:04 BST
Mark Carney, Governor of the Bank of England, with Yorkshire Post Business Editor Bernard GinnsMark Carney, Governor of the Bank of England, with Yorkshire Post Business Editor Bernard Ginns
Mark Carney, Governor of the Bank of England, with Yorkshire Post Business Editor Bernard Ginns

The central bank’s new boss told the Yorkshire Post that more monetary stimulus was still an option but that in his view there was no current need for additional bond buying, given that the UK recovery has “strengthened and broadened”.

Sterling reached a high of 1.61 against the US dollar and also improved against the euro, while the FTSE 100 Index retreated 23.5 points to 6542.5.

Hide Ad
Hide Ad

Traders also focused on the forthcoming listing of Royal Mail, which is due to join the London Stock Exchange on October 15.

The Government said today that shares will be priced at between 260p and 330p, giving the company a valuation in the range of £2.6 billion and £3.3 billion.

Individuals can apply for shares from later today, with the deadline for the receipt of applications being October 8. Further pricing details and share allocations will be confirmed when conditional dealings in Royal Mail start on Friday October 11.

In a light session for corporate news, Wickes owner Travis Perkins was the top riser in the FTSE 100 Index after the building supplies firm benefited from broker Goldman Sachs’ decision to upgrade the stock to buy. Shares lifted 26.5p to 1676.5p.

Related topics:Royal MailBank of EnglandTravis PerkinsTradersGovernmentYorkshire Post