Surge in ARM Shares Boosts U.K. Stocks After Four Weeks of GainsBy
ARM Holdings Plc led a second day of advances in U.K. stocks after a deal with SoftBank Group Corp.
The British chip designer soared 41 percent after SoftBank agreed to buy it for 24.3 billion pounds ($32 billion). Losses in commodity producers tempered gains in the FTSE 100 Index, as BHP Billiton Ltd. and Antofagasta Plc fell at least 1 percent.
The FTSE 100 added 0.4 percent at the close in London. The benchmark capped a fourth weekly gain on Friday, the longest streak since February 2015. A plunge in the pound since the U.K.’s vote to leave the European Union has boosted exporters in the gauge.
The FTSE 250 Index of midcaps and Ireland’s ISEQ Index also climbed today.
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