- Draghi's expansion of quantitative easing spurs further gains
- EasyJet jumps as summer sales boost passengers to record
U.K. shares advanced for a second day as a Chinese holiday brought calm to markets, and investors cheered Mario Draghi’s expansion of the European Central Bank’s bond-purchase program.
The FTSE 100 Index rose 1.8 percent to 6,194.1 at the close in London. Stocks extended gains in afternoon trading after Draghi unveiled a revamp of quantitative easing to allow for more purchases of euro members’ debt to curb the effects of the emerging market rout. The broader FTSE All-Share Index added 1.7 percent today and Ireland’s ISEQ Index also advanced 1.7 percent. A volatility gauge for U.K. stocks tumbled 16 percent after four days of gains pushed it to near its highest level since 2011.
EasyJet Plc advanced 5.4 percent as it raised its full-year earnings guidance after strong summer sales lifted passenger numbers and seat occupancy to record levels. Wm Morrison Supermarkets Plc rose 4.7 percent after UBS Group AG upgraded the grocer’s rating to neutral from sell.
Glencore Plc climbed 6.6 percent, leading a rebound in commodity producers as metals prices advanced.