U.K. Stocks Rise First Time in Five Days, Led by Tullow Oil, BHPSofia Horta e Costa
U.K. stocks rose for the first time in five days as mining companies and energy producers rebounded.
BHP Billiton Ltd. and Rio Tinto Group climbed, pushing a gauge of commodity producers up from its lowest level in 16 months. Tullow Oil Plc, BP Plc and Royal Dutch Shell Plc rose at least 4 percent, as oil and gas stocks rebounded from a three-year low. Friends Life Group Ltd. added 2.4 percent after Aviva Plc agreed to pay 5.6 billion pounds ($8.8 billion) in stock for the insurer. Royal Mail Plc slipped 3 percent after U.K. regulator Ofcom said it won’t impose conditions for rivals in the postal-service market.
The FTSE 100 Index added 85.73 points, or 1.3 percent, to 6,742.1 at the close of trading London. The benchmark gauge slid last week as the Organization of Petroleum Exporting Countries agreed not to reduce its oil output target, sending energy stocks tumbling. The broader FTSE All-Share Index climbed 1.2 percent today, while Ireland’s ISEQ Index rose 0.5 percent.