29/04/14 Market Movements

Market news
The FTSE100 climbed 69.75 points to close at 6,769.91 (its highest level in seven weeks) as preliminary data showed economic growth grew by 0.8% in the first quarter of 2014.

The increase marks the fifth consecutive period of GDP growth – the longest positive run since the financial crisis.   Despite the strong growth, the BoE has indicated it is unlikely to announce an interest rate rise any time soon, Its stance has been bolstered by falling inflation figures (inflation dropped to 1.6% last month).

BP was one of the biggest FTSE climbers today up 3.02% after after the U.K.’s second-largest oil producer raised its quarterly dividend by 8.3%.