BT Group's Advance Takes U.K. Stocks Up for First Time in 3 Daysby
BT Group Plc led the rally in Britain’s shares, after two days of losses for the FTSE 100 Index.
BT rose 3.2 percent after the U.K.’s antitrust regulator gave provisional approval to its bid to buy Deutsche Telekom AG and Orange SA’s British wireless venture EE Ltd. British American Tobacco Plc added 1.8 percent after the maker of Lucky Strike and Pall Mall cigarettes reported nine-month revenue growth that beat analysts’ estimates. Randgold Resources Ltd. climbed 2.1 percent as gold advanced before the Federal Reserve’s rate decision later today.
The FTSE 100 rose 0.3 percent to 6,384.24 at 9:37 a.m. in London, heading for its first monthly advance since July. The broader FTSE All-Share Index added 0.2 percent, while Ireland’s ISEQ Index slipped 0.1 percent.
Lloyds Banking Group Plc lost 4.4 percent after reporting profit that dropped more than analysts had estimated and saying it may have to set aside 1 billion pounds ($1.5 billion) to cover wrongly sold loan insurance. Meggitt Plc slumped 23 percent after saying underlying operating profit for the year will be below consensus.