Britain Stocks Rebound, With AB Foods Surging Most in 16 Yearsby
Britain’s shares climbed amid a broad-based rebound, with Associated British Foods Plc surging the most.
The FTSE 100 Index gained 1.1 percent at the close of trading in London, with 87 of its companies up, following yesterday’s 1.3 percent drop. AB Foods surged 8.9 percent, the most since March 2000, after raising its annual earnings forecast, citing the pound’s weakening. Financial firms climbed, with Provident Financial Plc and Royal Bank of Scotland Group Plc up more than 6.5 percent. Homebuilders and real estate companies also gained.
Precious metals miner Fresnillo Plc slipped 4.6 percent after reaching its highest price since 2011, while Randgold Resources Ltd. dropped 4.5 percent from a record high.
The broader FTSE All-Share Index and Ireland’s ISEQ Index also advanced. The regional Stoxx Europe 600 Index added 1.1 percent.