U.K. Stocks Reverse Losses to Close Higher Amid Light Tradingby
U.K. stocks climbed amid thin trading, reversing earlier declines as commodity producers rallied.
The FTSE 100 Index gained 0.2 percent at the close in London, after falling as much as 0.8 percent. The volume of shares changing hands on the gauge was 37 percent lower than the 30-day average, with European markets including Germany and Switzerland closed for a holiday. The FTSE All-Share Index and Ireland’s ISEQ Index also advanced.
The FTSE 100 on Friday capped its first weekly advance in four, up 0.2 percent, led by gains in commodity producers and banks.
Miners extended a rally today, as Anglo American Plc and Antofagasta Plc gained at least 3.3 percent, following metal prices higher.
Concern about Britain’s membership in the European Union has weighed on investor sentiment before the referendum in June. Britain’s biggest business lobby cut its growth forecasts for the U.K. economy and said the effect of a potential Brexit has cast a “dark cloud of uncertainty” over the outlook.