- Gains in commodity firms send all but 1 stocks higher
- CRH shares advance after $1.3 billion merger agreement
U.K. stocks plunged Monday, had their best day since 2011 on Tuesday, then sank again on Wednesday. Now, they’re joining in a global relief rally that has reversed the FTSE 100 Index’s weekly loss.
CRH Plc jumped 5.2 percent after agreeing to buy Los Angeles-based C.R. Laurence Co. for $1.3 billion. An index of commodities were the best performers in Europe, sending Anglo American Plc, BHP Billiton Ltd., Glencore Plc and Rio Tinto Group at least 6 percent higher.
The FTSE 100 Index gained 3.6 percent to close at 6,192.03 in London, in one of the most volatile weeks for the FTSE 100 Index in years. European stocks joined a global relief rally as Chinese shares snapped their longest losing streak in almost 19 years. Five companies in the FTSE 100, including Imperial Tobacco Group Plc., trade without the right to dividend today, trimming 1.37 points off the index.
The broader FTSE All-Share Index rose 3.2 percent and Ireland’s ISEQ Index climbed 3.4 percent.