U.K. Stocks Advance for Fourth Session; Johnson Matthey Ralliesby
U.K. shares rallied for a fourth day to reach a two-week high, with the majority of FTSE 100 Index companies rising.
Johnson Matthey Plc jumped 9.7 percent, the most in seven years, after saying it will return about 305 million pounds ($465 million) to shareholders and cut costs. Royal Mail Plc added 5 percent after posting earnings that beat analyst expectations.
The FTSE 100 added 0.8 percent to 6,329.93 at the close in London, tracking global stocks higher after U.S. Federal Reserve meeting minutes reaffirmed policy makers’ faith in the world’s biggest economy and stressed the pace of any rate increases will be slow. The broader FTSE All-Share Index rose 0.7 percent, while Ireland’s ISEQ Index rose 2 percent.