The FTSE 100 fell more than 0.5% on Thursday after the Bank of England cut interest rates by 25 bps to 4%, its lowest in more than two years, with traders paring their bets on further cuts. Companies like AstraZeneca (-1.3%) and Shell (-1.5%) weighed most heavily on the index. Others, including BAE Systems (-5.2%) and Reckitt (-1%), also declined. However, not all stocks struggled: Intercontinental Hotels surged more than 7% after reporting solid revenue growth and maintaining its guidance. Jefferies called the outlook “incrementally positive,” citing easing macroeconomic risks and performance in line with peers like Marriott. Separately, Halifax data showed UK house prices rose 0.4% in July, the strongest monthly gain this year, as lower mortgage rates supported affordability.