FTSE 100 Snaps 8-Day Losing Streak as Glencore, Sainsbury GainTrista Kelley
Britain’s shares rose for the first time in weeks, rallying from a 2012 low, helped by advancing shares of almost all FTSE 100 Index companies.
J Sainsbury Plc rallied 5.2 percent after retail research firm Kantar Worldpanel said the company “stands out” heading into Christmas. Peer Wm Morrison Supermarkets Plc increased 4.9 percent. Glencore Plc added 3 percent after JPMorgan Chase & Co. upgraded the stock to overweight, the equivalent of a buy.
The FTSE 100 climbed 2.5 percent, the most since Oct. 5, to 6,017.79 at the close in London. It plunged 4.6 percent last week, a second weekly decline, amid a rout in global equities and commodities. The broader FTSE All-Share Index rebounded 2.2 percent from its longest losing streak since 2011, and Ireland’s ISEQ Index snapped a five-day losing streak, rising 1 percent.