March 22 (Reuters) – UK’s FTSE 100 closed at its highest level in a year on Friday as investors continued to cheer the dovish tilt in the Bank of England’s monetary policy, while insurer Phoenix Group notched its best day in four years after issuing an upbeat forecast.
The blue-chip FTSE 100 (.FTSE), opens new tab rose 0.6% to clinch its second straight week of gains, powered by a near 2% rise on Thursday after the BoE said the economy is moving in the direction for interest rate cuts.
At top of the index was Phoenix Group (PHNX.L), opens new tab, adding 8.4% after the insurer said it expected to increase profits by nearly a half and generate higher operating cash by 2026.
The life insurance sector (.FTNMX303010), opens new tab led sectoral advances, with a 2.2% gain.
“Life insurer Phoenix is incredibly popular with retirees thanks to its generous dividends and shareholders will be celebrating after better-than-expected results and a…
