U.K. Stocks Advance Led by Travel Shares as Asos SurgesSofia Horta e Costa
U.K. stocks advanced as travel and leisure companies led gains and Asos Plc surged.
Tui Travel Plc, Thomas Cook Group Plc, and Carnival Plc added at least 4.5 percent. Asos Plc jumped 16 percent after annual profit exceeded estimates. Ophir Energy Plc climbed 5.8 percent after reporting good gas flow rates from a well in Equatorial Guinea. Reckitt Benckiser Group Plc fell 2.1 percent after saying annual sales growth will be at the lower end of the company’s forecast amid lower demand in southeast Asia and Latin America.
The FTSE 100 Index added 105.26 points, or 1.7 percent, to 6,372.33 at the close of trading in London, erasing a loss of as much as 0.6 percent. The equity benchmark rallied to a 14-year high in May before falling almost 10 percent amid concerns about global growth, the conflict in Ukraine and the spread of Ebola. The FTSE All-Share Index also rose 1.7 percent today, while Ireland’s ISEQ Index jumped 2.9 percent.