LONDON -- The big market driver today is the Bank of England's (B of E) new stimulus package, which gave a much-needed boost to the U.K.'s banking sector. Announced yesterday, the new measures will see billions in cheap credit provided to banks to lend on to business customers, in an effort to offset some of the contagion from the eurozone. It marks a change from the previous approach of quantitative easing, after banks were criticized for hanging on to too much of the cash and not passing on the liquidity as hoped.
The FTSE 100
Other European indexes followed suit with similar percentage gains -- the German DAX rose 58 points to 6.197 (1%) and in France the CAC 40 put on 39 points to 3,073 (1.4%).
Good for banks
Bank shares responded appropriately, with Royal Bank of Scotland
Some of the miners regained a little of yesterday's losses, led by Xstrata
At the red end of the table, BSkyB Group
Mixed company news
Shares in Lamprell put on 10 pence for a gain of 13% to 89 pence on news that the company has successfully delivered an offshore drilling platform.
Meanwhile, a profit warning from Albermarle & Bond pushed the pawnbroker's shares down 6%, falling 17 pence to 259 pence. A pre-close update from Aggreko also disappointed the market, and its shares dropped 91 pence, for a 4% fall to 2,069 pence.
As always, this morning's news saw some winners and losers -- and perhaps some buying opportunities. For more share ideas, the Motley Fool's "Top Sectors For 2012" report outlines some attractive companies within three favorable industries. The report is free to all private investors -- and you can download your copy now.
The Motley Fool is helping Britain invest. Better. And with the economy so uncertain, we're urging everyone to read "10 Steps To Making A Million In The Market" -- it may transform your wealth. Click here now to request your free, no-obligation copy.
Further investment opportunities
Alan Oscroft does not own any share mentioned in this article. The Motley Fool has a disclosure policy.
We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.