FTSE 100 Rises After Surpassing 7,000; Standard Chartered JumpsInyoung Hwang
U.K. stocks rose, reversing earlier declines, to extend five straight days of gains that sent the FTSE 100 Index past 7,000 for the first time.
Standard Chartered Plc soared 6.7 percent after JPMorgan Chase & Co. recommended buying the shares. Weir Group Plc and Meggitt Plc fell after their stocks were downgraded by Royal Bank of Canada and Sanford C. Bernstein & Co., respectively. Carnival Plc lost 1.7 percent after Deutsche Bank AG cut its recommendation on the cruise-ship operator to a hold.
The FTSE 100 added 0.2 percent to 7,037.67 at the close in London, erasing an earlier decline of as 0.4 percent. The benchmark advanced 4.2 percent last week, the biggest weekly rally since Jan. 23. The FTSE All-Share Index added 0.1 percent today and Ireland’s ISEQ Index slid 0.8 percent.