U.K.’s FTSE 100 Climbs for a 4th Day to Highest in 11 Monthsby
U.K. stocks advanced, capping its longest winning streak in three weeks, boosted by gains in lenders.
HSBC Holdings Plc, which has the heaviest weighting on the benchmark, followed European lenders higher, up 1.7 percent. Standard Chartered Plc and Royal Bank of Scotland Group Plc rose more than 2 percent. Drugmaker Shire Plc climbed 1.3 percent after selling three pre-clinical trial programs to Chronos Therapeutics Ltd.
The FTSE 100 added 0.5 percent at the close in London. The measure, whose multinational members get most of their revenue outside the U.K., has rallied amid a plunging pound after Britons voted to leave the European Union. It entered a bull market last week and is the best performer among western-European markets this year, up 7.8 percent.
The FTSE 250 Index of midcaps and Ireland’s ISEQ Index also rose today.