FTSE bounces back on ECB expectations

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London - Britain's top shares climbed higher on Thursday on expectations that the European Central Bank will unveil details of a new bond-buying programme to help cut the borrowing costs of some indebted countries in its efforts to tackle the credit crisis.

By 0711 GMT, the FTSE 100 index was up 15.34 points, 0.3 percent at 5,673.20, after falling 0.3 percent to a one-month low in the previous session.

Investors were awaiting the ECB's policy announcement at 1145 GMT and President Mario Draghi's news conference at 1230 GMT, as well as the Bank of England's interest rate decision at 1100 GMT.

The BoE is widely expected to stick to its current programme of government bond purchases and keep interest rates unchanged.

WM Morrison Supermarkets was a top blue chip gainer, up 4.1 percent after Britain's No.4 grocer posted first-half profit towards the top end of forecasts and said it was on track to meet its expectations for the year. - Reuters


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