Mixed results for markets

U.S. stocks traded mostly lower as the much-anticipated tax plan Thursday by House Republicans failed to impress investors, and eyes were locked on the announcement of the next head of the Federal Reserve. House Republicans introduced the Tax Cuts and Jobs Act that is aimed at cutting corporate taxes and repealing taxes paid by large estates. However, it is unclear when and if the bill will pass. The S&P 500 was off by a point at 2,577 whilst the Dow Jones Industrial Average reversed an earlier drop to rise 27 points, or 0.1%, to 23,462.

European markets ended lower, with shares of many exporters under pressure as the euro increased in value. British blue chips, however, climbed as the Bank of England struck a dovish note even as it raised borrowing costs for the first time in a decade. The FTSE 100 index rose 0.9% to end at 7,555.32, scoring its highest close since Oct. 12, according to FactSet data.

Bank of England interest rate hike

The Bank of England has raised interest rates for the first time in more than 10 years. BoE. Governor Mark Carney has pulled a major prop from underneath the value of the pound by slapping a dovish line on the interest-rate hike, and has hinted that the rate is likely to rise twice more over the next three years. The official bank rate has been lifted from 0.25% to 0.5%, the first increase since July 2007.

Almost four million households face higher mortgage interest payments after the rise, but it should give savers a modest lift in their returns. As well as many of the country's 45 million savers, anyone considering buying an annuity for their pension will also see better deals. Mr. Carney expects banks to pass on the rate rise to savers, but said many mortgages, loans and credit cards would not see an immediate impact.

Orders for Bombardier’s C-series

An unnamed European airline intends to buy at least 31 of Bombardier's C-Series planes, the aerospace firm has said. The airline has signed a letter of intent for 31 orders, with options for 30 more. It expects the deal to be agreed by the year's end. C-Series wings are made at Bombardier's Belfast operation, providing employment for about 1,000 people.

Alain Bellemare, Bombardier's chief executive, said: "This significant new order confirms the increasing confidence customers have in the C Series." Based on the list price, a firm order would be valued at approximately $2.4bn (£1.81bn), rising to nearly $4.8bn should all 30 options be exercised. For the third quarter of 2017, Bombardier posted a net loss of $117m on turnover of $3.8bn.