FTSE 100 Posts 4-Day Gain; Glencore, Anglo Reach November Highsby
U.K. stocks advanced for a fourth day, rising higher with gains in oil and mining shares to almost erase their February slump.
Glencore Plc soared 18 percent after saying it signed new loan commitments to replace an existing $8.45 billion revolving credit facility. Anglo American Plc gained 17 percent. Antofagasta Plc and BHP Billiton Plc added at least 7 percent. That pushed up a European gauge of miners, which erased its year-to-date loss.
Financial firms also rallied, with Barclays Plc and Aberdeen Asset Management Plc climbing more than 4.2 percent.
The FTSE 100 Index rose 2.9 percent to close at 6,030.32 in London, with all but two stocks increasing. The gains pushed the benchmark only 0.9 percent away from completely erasing a February rout, while paring this year’s drop to 3.4 percent. The broader FTSE All-Share Index added 2.8 percent today, while Ireland’s ISEQ Index rose 3.2 percent.