Britain’s Stocks Reverse Declines as Lenders, Tesco Advanceby
Britain’s shares erased losses to close higher, snapping a streak of weekly slides.
The FTSE 100 Index added 0.6 percent at the close of trading in London, reversing a decline of as much as 0.7 percent after U.S. data showed retail sales and consumer confidence climbed more than forecast. Tesco Plc rose 3.9 percent, the most since February, while Standard Chartered Plc and Lloyds Banking Group Plc rose more than 2.3 percent.
The benchmark index for U.K. equities climbed 0.2 percent this week after falling for the three previous periods. The broader FTSE All-Share Index also increased on Friday, while Ireland’s ISEQ Index fell.
Satellite company Inmarsat Plc lost 4.2 percent after French peer Eutelsat Communications SA cut its revenue-growth forecast. Bottler Coca-Cola HBC AG dropped 3.5 percent after reporting a decline in quarterly sales. RSA Insurance Group Plc slid 1.4 percent after Macquarie lowered its rating on the stock to the equivalent of a sell.