WORLD markets were boosted today after US policymakers pledged to keep a key interest rate near to zero in order to help foster economic growth.
While the Federal Reserve reported some encouraging signs for the world’s biggest economy, it said it was in no hurry to tighten monetary policy.
Asian markets were encouraged by the update, as well the news from the Bank of Japan that it would offer more cheap loans to banks in order to fight deflation.
Tokyo’s Nikkei index rose by more than 1%, while in London the FTSE 100 Index lifted 17.8 points to 5638.3.
Stronger commodity prices meant miners dominated the risers board, with Xstrata up 16.5p to 1181.5p, Rio Tinto 42.5p higher at 3744.5p and Eurasian Natural Resources up 14p to 1180p.
B&Q owner Kingfisher set the pace, up 2% or 5.1p to 228.1p, after HSBC upgraded its rating on the retailer and lifted its target price to 310p.
Security group G4S continued to suffer a hangover following its annual results on Tuesday, as shares slipped another 10.5p to 258.7p. The stock has given back recent gains after it said organic revenues would be flat this year.
