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Funding injections from the Bank of England, intended to shore up the UK financial sector, buoyed the market.Then Mark Carney, Governor of the Bank of England, hinted he may cut interest rates below their historic low of 0.5 per cent.By the close on Friday it was trading higher still at 6,557.83.After heavy losses on the FTSE 100 following the referendum results, investors took heart from the decision by policians to delay invoking Article 50, effectively delaying any further upheaval.That would make it cheaper for banks to borrow money that they can then lend out for higher rates.
The FTSE 250 fell 13 per cent in two days after the vote came in.
But it is helping confidence in the FTSE 100 companies.
The majority of FTSE 100 constituents are multinational companies that make a large proportion of their income overseas.
As the pound drops in value, this income is worth more in the UK.
Cheap sterling can also reduce imports to and increase exports from the UK.