U.K. Stocks Advance as Anglo American, BHP Lead Miners’ ReboundInyoung Hwang
U.K. stocks rose as commodity shares rebounded from their worst drop in two weeks.
The FTSE 100 Index climbed 0.2 percent to 7,075.26 at the close in London, after erasing gains thrice in intraday trading. BHP Billiton Ltd. and Anglo American Plc advanced more than 3 percent, pushing a gauge of miners to a three-week high. The broader equity measure is up 7.8 percent this year. The FTSE All-Share Index also rose 0.2 percent, while Ireland’s ISEQ Index dropped 0.2 percent today.
Tullow Oil Plc jumped 8.6 percent after Citigroup Inc. recommended buying the shares, saying investors are discounting growth in East Africa. Hargreaves Lansdown Plc slid 2.2 percent after saying co-founder Peter Hargreaves will step down from the board immediately. Aberdeen Asset Management Plc fell 2.5 percent as RBC Capital Markets LLC downgraded the shares, predicting faster equity outflows.