FTSE 100 edges up on commodity-linked strength; rate decision awaited

London's FTSE 100 was marginally higher on Thursday, led by gains in energy and mining shares, while investors waited for the Bank of England's decision on a rate hike later in the day.

The blue-chip FTSE 100 index was up 0.2 per cent, helped by oil majors Shell and BP, while the mid-cap index was down 0.3 per cent.

Shell, which moved its headquarters from The Hague to London last month, was up 1.4 per cent after it boosted its dividend and share repurchases and its fourth-quarter profit soared to $6.4 billion.


The BoE is expected to raise rates by as much as 50-basis-points in its second consecutive increase in rates, when it meets later in the day.

Two-year yields slid marginally, having been at levels last seen in May 2011, while five-year yields also dipped a little from their highs earlier this week.

Shares in catering giant Compass group rose 6.4 per cent and was the top gainer on the index, after it said its first-quarter revenue had reached 97 per cent of its pre-pandemic levels.