U.K. Stocks Snap Three-Day Slump as Miners, Prudential Advanceby
U.K. stocks advanced, mirroring a rebound in European equities amid a rally in mining and financial shares.
Glencore Plc, Anglo American Plc and BHP Billiton Plc rallied 2.5 percent or more, helping send an index of European mining stocks higher. Prudential Plc added 3.4 percent after the insurer disclosed details of its capital strength and named a new chief executive officer for the U.K. and Europe. Peers RSA Insurance Group Plc and Old Mutual Plc also rose.
The FTSE 100 Index rose 1.7 percent to close at 5,876.80 in London, its biggest rally since Dec. 23. The index has lost 5.8 percent since the start of the year amid concern a currency and stock market rout in China will hurt global growth. The broader FTSE All-Share Index gained 1.5 percent today, and Ireland’s ISEQ Index advanced 1.4 percent.