They noted: "The new management team have a demonstrable track record of bringing greater cohesion and focus to defence companies. The US bank’s analysts said that while the investment case for Babcock was a turnaround story, "risk remains". 3.25pm: Babcock bittenĪnalysts at Citi have downgraded their rating for Babcock International Group PLC to 'neutral' from ‘buy’ on concerns about legacy issues. The BoE governor’s remarks saw markets reduce their expectations for future increases in the base rate, having priced-in a further 65bp increase over the next three meetings before the speech. Some further increase in Bank Rate may turn out to be appropriate, but nothing is decided." Pill’s comments come a day after Bank of England governor Andrew Bailey gave a speech in which he emphasised that "nothing is decided" yet by the BoE monetary policy committee about interest rates.īailey said: "At this stage, I would caution against suggesting either that we are done with increasing Bank Rate, or that we will inevitably need to do more. "Survey indicators that have become available since the publication of the forecast have surprised to the upside, suggesting that the current momentum in economic activity may be slightly stronger than anticipated," Pill said in notes released by the BoE, according to Reuters. 3.45pm: Bitter Pill to swallowīritain's economy is showing slightly more momentum than expected, and pay growth is proving a bit faster than the central bank forecast last month, Bank of England chief economist Huw Pill said. The FTSE 100 scratched up another positive finish on Thursday, closing out the session up 29 points or 0.37% higher at 7,944.Ī strong end to the week could, from here, potentially see the bluechip benchmark press back towards the 8,000 marker.
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