U.K. Stocks Advance as FTSE 100 Index Pares Weekly LossInyoung Hwang
U.K. stocks advanced, paring the biggest weekly retreat since March for the benchmark FTSE 100 Index, as Parliament debated plans for air strikes on Islamic State positions in Iraq.
EasyJet Plc led gaining shares, adding 3.2 percent. Shire Plc increased 1.7 percent as people with knowledge of the matter said AbbVie Inc. will borrow more to complete its takeover of the drugmaker after the U.S. imposed tougher tax-inversion rules. Sports Direct International Plc declined 2.7 percent to its lowest price since July 2013. J Sainsbury Plc tumbled to an almost six-year low after Barclays Plc said a trading update from the company on Oct. 1 may reveal a weakening sales trend.
The FTSE 100 climbed 9.68 points, or 0.2 percent, to 6,649.39 at the close in London. The FTSE 100 slid 2.8 percent this week amid concern that the Bank of England is moving closer to raising its benchmark interest rate. The broader FTSE All-Share Index rose less than 0.1 percent today, while Ireland’s ISEQ Index added 0.2 percent.
U.K. Prime Minister David Cameron recalled Parliament for a vote to authorize joining international air strikes against Islamic State militants in Iraq. He has the support of his allies Liberal Democrats and the opposition Labour Party, unlike last year when he lost a vote for action against Syria because of a lack of political consensus.
U.S. gross domestic product grew at a revised 4.6 percent annualized rate in the second quarter, up from a previous estimate of 4.2 percent, data from the Commerce Department data showed in Washington. Another report showed the Thomson Reuters/University of Michigan final September index of consumer sentiment rose to 84.6 from 82.5 a month earlier.