U.K. stocks rebounded from a fourth weekly loss as Greece offered creditors a new plan to avert a default.
The FTSE 100 Index rallied 1.7 percent to 6,825.67 at the close in London. The benchmark gauge posted its biggest rally since May amid optimism Greece will reach a deal before an aid package expires end of the month. Dutch Finance Minister Jeroen Dijsselbloem said after a meeting with his euro-area counterparts that a new set of proposals submitted by the Greek government were a positive step.
The broader FTSE All-Share Index rose 1.6 percent on Monday, while Ireland’s ISEQ Index added 0.9 percent.
Sky Plc climbed 3.5 percent after the Sunday Telegraph reported Rupert Murdoch’s family has turned down two offers for its holding in the company. Spire Healthcare Group Plc jumped 11 percent after Mediclinic International Ltd. agreed to buy a stake for 431.7 million pounds ($685 million). Carnival Corp. gained 3.8 percent after Deutsche Bank AG recommended buying the shares, saying the cruise-ship operator’s earnings may beat estimates.