Lloyds Banking, RSA Insurance Jumps Lead Advance in U.K. Stocksby
British equities climbed the most in a week, led by surges at financial firms after reporting earnings.
Lloyds Banking Group Plc surged 14 percent, the most since 2010, after raising its dividend and giving a special payment. RSA Insurance Group Plc jumped 9.8 percent after posting a gain in operating profit. Barclays Plc and Royal Bank of Scotland Group Plc climbed more than 5 percent, while Premier Oil Plc fell 5.5 percent after saying its annual loss widened.
The FTSE 100 Index advanced 2.5 percent, posting one of the biggest gains among western-European markets. The gauge resumed a rebound after falling 2.8 percent in the past two days amid a slide in commodity producers. So far this year, it’s the best performer among developed markets in Europe, also helped by a weakening pound.
The broader FTSE All-Share Index and Ireland’s ISEQ Index climbed more than 1.4 percent on Thursday. The volume of FTSE 100 stocks changing hands was 10 percent higher than the 30-day average.