U.K. Stocks Snap 3-Day Decline as Standard Chartered, BP Rallyby
U.K. stocks rose, halting their longest losing streak in two months, as companies including Standard Chartered Plc and BP Plc climbed after earnings reports.
Standard Chartered surged 9.8 percent, leading lenders higher, after posting a surprise drop in loan impairments. BP gained 4.3 percent after the oil producer unexpectedly reported a first-quarter profit. Whitbread Plc rose 2.6 percent after its earnings beat estimates, fueled by its Costa Coffee chain.
The FTSE 100 Index climbed 0.4 percent at the close in London, paring an earlier advance of as much as 0.6 percent. Today’s gains come after a loss in momentum in the recent rally since the benchmark reached a four-month high on April 20. The broader FTSE All-Share Index and Ireland’s ISEQ Index also advanced today.