Commodity Producers, Banks Lead U.K. Stocks to Four-Month Highby
Britain’s stocks extended a four-month high, spurred by gains in miners and lenders.
Anglo American Plc, Rio Tinto Group and Standard Chartered Plc climbed more than 3 percent. Paddy Power Betfair Plc and BT Group Plc fell after cuts in their stock ratings. ARM Holdings Plc reversed gains, closing 1 percent lower after reporting quarterly sales that beat analysts’ estimates, while pretax profit missed projections. Retail broker Hargreaves Lansdown Plc fell the most since February, leading losses in the FTSE 100 Index.
The benchmark gauge added 0.1 percent at the close of trading in London, erasing a loss of as much as 0.6 percent to take its rebound since its February low to 16 percent. The gauge, up 2.7 percent this year, is among the best performers in developed markets.
The broader FTSE All-Share Index was also little changed on Wednesday, while Ireland’s ISEQ Index fell.