UK stocks closed higher today, with the FTSE 100 rising as much as 2%, boosted by rate-sensitive financials after the Bank of England kept borrowing costs unchanged and said that the economy is moving in the direction for interest rate cuts.
The FTSE 100 closed at its highest level since May 2023, boosted by a 4.5% gain in the investment banking sector, while a near 1.0% fall in the pound against the dollar also helped the exporter-heavy…