U.K. Stocks Gain as BG, Shell Lead Energy Shares HigherNamitha Jagadeesh
U.K. stocks rose, extending a weekly gain, as shares of energy producers rebounded amid an advance in oil prices.
Royal Dutch Shell Plc and BG Group Plc each gained more than 1 percent after earlier dragging the FTSE 100 Index lower. Brent crude advanced amid speculation that the Organization of Petroleum Exporting Countries faces more pressure to curb output after prices dropped below $80 a barrel for the first time in four years.
Tesco Plc climbed 2 percent after HSBC Holdings Plc raised its rating on the shares. Aggreko Plc rallied 3.4 percent after saying underlying revenues rose in the third quarter.
The FTSE 100 added 12.17 points, or 0.2 percent, to 6,647.62 at the close in London after earlier falling as much as 0.4 percent. The FTSE All-Share Index gained 0.2 percent while Ireland’s ISEQ Index retreated 0.6 percent.
The FTSE 100 has climbed 1.2 percent this week for a fourth week of gains. It has rebounded 7.3 percent from this year’s low on Oct. 16.