U.K. Stocks Snap Three-Day Drop as Hargreaves Landsdown Advancesby
U.K. stocks rose for the first time this week, helped by gains in Hargreaves Lansdown Plc and Arm Holdings Plc.
Those stocks added at least 5 percent each. RBC Capital Markets LLC raised Hargreaves Lansdown to sector perform from underperform to reflect “impressive momentum,” while Arm was boosted by takeover talk in the industry.
Burberry Group Plc was the leading decliner on the FTSE 100 Index, with the shares tumbling the most since 2012 after the U.K. luxury-goods maker indicated profit will probably decline for a second straight year after sales in Asia dropped.
The FTSE 100 rose 1.1 percent to 6,338.67 at the close in London, trimming this week’s decline in the benchmark, which was driven by weak economic data out of China. Before then, an eight-day rally had been fueled by gains in commodity producers and optimism that the Federal Reserve won’t rush to raise rates. The broader FTSE All-Share Index climbed 1 percent today, while Ireland’s ISEQ Index added 1.6 percent.