FTSE 100 Mirrors BOJ-Fueled Global Gains for Best Week of 2016by
Financial companies rebounded from yesterday’s slump to lift U.K. stocks higher, sending the FTSE 100 Index to steepest gain of the year.
Aberdeen Asset Management Plc, Prudential Plc, Barclays Plc and Standard Chartered Plc added 2.5 percent or more. Old Mutual Plc and HSBC Holdings Plc also rallied, sending the FTSE 100 up 2.6 percent to close at 6,083.79 in London. All but three stocks in the benchmark advanced, with trading volume 37 percent above its 30-day average.
The FTSE 100 is still down 2.5 percent in January, its worst month since September. The FTSE All-Share Index climbed 2.4 percent today, while Ireland’s ISEQ Index increased 2.1 percent.
Global equities gained after the Bank of Japan’s unexpected monetary stimulus boosted confidence that central banks remain vigilant of slowing economic growth.