U.K. Stocks Rebound From Lowest Since 2012 as Barclays Risesby
Britain’s shares rebounded after a three-day slump, with financial companies regaining lost ground.
The FTSE 100 Index added 0.7 percent at 8:46 a.m. in London as more than 80 of its shares climbed, while a gauge of volatility remained near its highest level since September. Tesco Plc rose for a second day after researcher Kantar Worldpanel said a sales decline eased further. Barclays Plc and Prudential Plc advanced more than 2 percent after slumping to their lowest prices since 2012 and 2013, respectively.
Hikma Pharmaceuticals Plc tumbled 18 percent after reducing the cash portion it is paying to buy Boehringer Ingelheim GmbH’s Roxane business as it found out sales had unexpectedly dropped last year and may do so again this year and next. ARM Holdings Plc lost 4.9 percent after reporting quarterly profit that met analysts’ projections.
The FTSE 100 has lost 9.2 percent this year, less than the regional Stoxx Europe 600 Index, as miners rallied for three weeks. The broader FTSE All-Share Index also climbed on Wednesday, and Ireland’s ISEQ Index advanced 2.1 percent, rebounding from its biggest six-day plunge since 2011.