U.K. Stocks Rise Fourth Day for Biggest Weekly Rally Since 2011Sofia Horta e Costa
U.K. stocks rose for a fourth day, with the FTSE 100 Index posting its biggest weekly gain in three years, as lenders and commodity shares advanced.
HSBC Holdings Plc and Barclays Plc gained at least 1.3 percent. Mining stocks rallied, with BHP Billiton Ltd. and Glencore Plc up more than 2.7 percent. WPP Plc climbed 2 percent after Citigroup Inc. recommended buying the stock. SSE Plc fell 1.5 percent after the U.K. fixed prices and awarded contracts to provide power in the winter of 2018.
The FTSE 100 added 79.27 points, or 1.2 percent, to 6,545.27 at the close in London, extending gains in the afternoon. The benchmark index has rebounded 3.9 percent this week, trimming its monthly loss to 2.6 percent. The gauge has gained every December since 2002.
The number of shares changing hands in FTSE 100-listed companies was 42 percent greater than the average of the past 30 days, according to data compiled by Bloomberg.
The broader FTSE All-Share Index increased 1.2 percent today, and Ireland’s ISEQ Index slipped less than 0.1 percent.