U.K. Stocks Advance to Snap Two-Day Slide as Mondi Shares Rally

Updated on

The FTSE 100 Index climbed for the first time this week, led by gains in Mondi Plc.

The FTSE 100 increased 0.2 percent to 6,949.63 at the close in London, buoyed after a report showed the nation’s unemployment fell to its lowest since 2008 in the first quarter and pay growth rebounded. The FTSE All-Share Index gained 0.4 percent, while Ireland’s ISEQ Index advanced 0.1 percent.

Mondi rose 8.7 percent for its biggest jump since 2009 after Europe’s largest producer of kraft paper and industrial bags said first-quarter earnings jumped. Barratt Developments Plc rose to an almost eight-year high after saying it expects to reach its housing targets earlier than previously forecast.

Compass Group Plc slipped 3.8 percent after the world’s largest caterer reported first-half earnings that missed analysts’ estimates.

(A previous version of this story corrected the time of the market’s move to p.m. from a.m.)

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