Pound falls, European stocks rise as BoE cuts rates

August 4, 2016 1:19 PM

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Pound falls, European stocks rise as BoE cuts rates

LONDON European shares rose, government bond yields fell and sterling weakened against the dollar and euro on Thursday after the Bank of England cut interest rates and restarted bond purchases in a bid to ease the economic hit from June's vote to leave the EU.

U.S. stock index futures ESc1 1YMc1 SPc1 also rose and were last up 0.2-0.3 percent, indicating Wall Street would open modestly higher.

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