Banks and miners were making gains on Tuesday as risk appetite increased on the back of hopes that the Federal Reserve (Fed) may announce further stimulus next week at its policy meeting.
Chicago Fed President Charles Evans today threw his weight behind the central bank kick-starting the world's largest economy.
In an interview with Bloomberg TV, he said: "I've been favour of pretty much any accommodative policy I've heard about [...] Extending the Twist would be useful [...] More asset purchases would be useful. More mortgage-backed securities purchases would be good."
Evans sits on the Federal Open Market Committee which sets monetary policy for the US, his comments have given investors hope some kind of massive US intervention is possible.
Banking groups Lloyds, RBS and HSBC finished the day with gains while mining peers Randgold and Fresnillo tracked precious metals higher.
Change is in the air at HSBC. The lender has been right to concentrate on cost-cutting, having exited 50 businesses and announced roughly 44,000 lay-offs since 2011 - even if its cost-to-income ratio has risen over the past three years. Indeed, banks have been at pains recently to show investors that they can still grow, but HSBC does have greater exposure to emerging markets, while "soggy" top lines are being me with a renewed focus on efficiency and returns, with the lender [Thu 06:26]
HSBC Chief Executive Stuart Gulliver has notified of further considerable cost cutting plans as the bank becomes "simpler and easier to manage" after shedding a swathe of underperforming businesses. [Wed 07:45]
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