U.K. Stocks Rally for a 2nd Day as BP, Shell Lift FTSE 100 Indexby
A jump in BP Plc and Royal Dutch Shell Plc lifted the FTSE 100 Index higher after U.K. stocks ended the month yesterday with their biggest advance since August.
Pearson Plc rose 2.2 percent after Citigroup Inc. reinstated the company with a buy rating. Glencore jumped as much as 8 percent earlier in the day, then reversed to fall as much as 6 percent, before closing down 0.6 percent. Tesco Plc led declines on the benchmark, falling 2.7 percent, after the London-based Times reported that the grocer is in talks to sell 10 development sites for 250 million pounds ($378 million).
The FTSE 100 added 0.2 percent to 6,072.47 at the close in London, paring a rally of as much as 1.8 percent. Tumbling commodity stocks and confusion over the Federal Reserve’s tightening policy helped send the benchmark 7 percent lower in the third quarter, its worst performance in four years. The broader FTSE All-Share Index added 0.3 percent today.