U.K. Shares Rise as Investors Look to Safe Havens After Parisby
U.K. stocks advanced as investors sought refuge in companies related to safe-have assets such as gold, after Paris suffered Europe’s worst terrorist attack in a decade.
Randgold Resources Ltd. added 2 percent. Energy producers gained, led by Premier Oil Plc, which jumped 7.4 percent after selling its Norwegian assets to Det Norske. Tullow Oil Plc climbed 3.2 percent. British American Tobacco Plc rose 1 percent.
Travel shares were among the biggest decliners in London, with British Airways parent IAG SA losing 2.8 percent and TUI AG falling 4.1 percent. Carnival Plc slipped 2.5 percent.
The FTSE 100 Index rose 0.5 percent to 6,146.38 at the close of trading in London, reversing an earlier drop of as much as 0.6 percent. Violence in Paris on Friday, and France’s bombing of Islamic State’s nerve center in Syria on Sunday, sparked concern that geopolitical tensions will hurt trade and consumer confidence. The equity benchmark capped its third consecutive weekly decline on Friday.