Homebuilders, Shire Gains Spur FTSE 100 to Rally Beyond RecordInyoung Hwang
U.K. stocks advanced, with the FTSE 100 Index extending a record, led by Shire Plc and a rally in homebuilders.
Shire rallied 4.8 percent after U.S. regulators granted a priority review for its experimental eye drug Lifitegrast. Aberdeen Asset Management Plc rose 9.2 percent this week to reach a record high. Barratt Developments Plc, Taylor Wimpey Plc and Persimmon Plc climbed more than 1.4 percent after Jefferies Group raised the stocks’ ratings, saying data signals a stronger housing market than anticipated. ITV Plc gained 3.6 percent after Morgan Stanley doubled its forecast for the company’s ad growth.
The FTSE 100 added 1.1 percent to 7,089.77 at the close in London. The benchmark gauge is poised for its first weekly gain in three weeks, climbing 3.8 percent. The FTSE All-Share Index rose 1 percent to extend a record, while Ireland’s ISEQ Index fell 0.1 percent.
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