UK and European markets climbed following the latest monetary policy decisions from the Bank of England and Swiss National Bank.
The dollar was little changed after the U.S. Federal Reserve maintained its interest rate cut projections for the year in the face of upside surprises on inflation.
Oil prices were slightly lower, even after a surprise U.S. crude stock drop and the U.S. Federal Reserve sticking to its outlook on rate cuts.
Gold climbed after the U.S. Federal Reserve indicated they expect to reduce interest rates by three quarters of a percentage point by end-2024, sending the dollar and Treasury yields lower.
Direct Line posted a widening of its full-year losses on Thursday as it announced a new £100m cost-savings plan and declared a 4p a share dividend.
In the year to the end of December 2023, the operating loss from ongoing operations widened to £189.5m from £6.4m a year earlier, with "the adverse movement in the net insurance margin partially offset by an increase in investment income".
Direct Line also said it was targeting at least £100m of annualised cost savings by the end of 2025, and a new net insurance margin, normalised for weather, of 13% in 2026.
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