BoE sells 346 million stg of gilts in first unwinding of emergency intervention

LONDON - The Bank of England on Tuesday said it had sold 346.4 million pounds ($416 million) of the long-dated and index-linked gilts it had bought earlier this year to help stabilise financial markets.

The bank said it had received bids worth 480.5 million pounds at the first such sales window for the 19 billion pounds of bonds it bought in the wake of September's mini-budget which caused leveraged pension funds to ditch British debt.

($1 = 0.8330 pounds)