U.K. Stocks Rise as Banks, Energy Shares Outweigh Vodafone Drop

U.K. stocks advanced, reversing an earlier slide, as gains in banks and energy companies outweighed declines in Vodafone Plc and Kingfisher Plc.

BP Plc rose 2 percent, pushing a measure of British oil-and-gas companies higher. HSBC Holdings Plc and Standard Chartered Plc added at least 1.6 percent. Vodafone slipped 1.3 percent. Kingfisher Plc slid 2.5 percent after proposing a lower-than-forecast interim dividend.

The FTSE 100 Index climbed 0.9 percent to 6,137.6 at the close in London, after earlier losing as much as 1.1 percent. Shares extended gains after disappointing U.S. economic data cast doubt on the ability of the world’s biggest economy to withstand an interest rate increase this month. 

Trading has been volatile as investors await Thursday’s Federal Reserve announcement on borrowing costs. The broader FTSE All-Share Index gained 0.7 percent today, while Ireland’s ISEQ Index jumped 1.1 percent.

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