U.K. Stocks Climb for Fifth Day as Sky Rises; Homebuilders Fall

Updated on
DAVOS WEF 2014

U.K. stocks posted their best five-day rally since January as Sky Plc and grocers advanced.

Tesco Plc and J Sainsbury Plc climbed at least 1.8 percent. Sky climbed 4.1 percent after Deutsche Bank AG recommended buying the shares, saying online video will help boost growth. Taylor Wimpey Plc and Persimmon Plc paced a drop among homebuilders, falling 1.5 percent each after Bank of England Governor Mark Carney said the time for an interest-rate increase is moving closer.

The FTSE 100 Index added 0.2 percent to 6,753.75 at the close in London, erasing a drop of as much as 0.4 percent. The benchmark gauge has jumped 5 percent in five days, rebounding from a six-month low.

The volume of shares changing hands was 21 percent lower than the 30-day average. The FTSE All-Share Index added 0.1 percent and Ireland’s ISEQ Index rose 0.5 percent.

Among other shares active on corporate news, Johnston Press Plc tumbled 20 percent after forecasting full-year profit below estimates.

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