London Markets: FTSE 100 surges as Bank of England ramps up stimulus

U.K. stocks jumped Thursday as the Bank of England cut its key interest rate for the first time in seven years and ramped up its stimulus efforts in the aftermath of the Brexit vote.

The FTSE 100 UKX, +1.44% surged 1.3% to 6,729.56, getting closer to its 2016 closing high of 6,750.43. All sectors advanced, led by financial and oil and gas shares. The index on Wednesday shed 0.2%.

Shares of exporters climbed as the pound was headed sharply lower, falling to $1.3121 from $1.3321 just before the BOE’s policy decision was announced. The BOE, lead by BOE Gov.

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