U.K. Stocks Climb Fourth Day as Standard Life Rises on DividendBy
U.K. shares advanced for a fourth day as gains in Standard Life Plc and supermarkets outweighed declines in Legal & General Group Plc.
Standard Life jumped 6.8 percent after reporting a 7.5 percent increase in its first-half dividend. Wm Morrison Supermarkets Plc added 1.9 percent after extending an agreement with Ocado Group Plc that will enable its online grocery business gain national coverage. Tesco Plc rose 2.3 percent. Legal & General Group Plc lost 5.6 percent after reporting first-half profit that missed analysts’ estimates.
The FTSE 100 added 0.6 percent to 6,851.3 at the close of trading in London, while the FTSE 250 Index of mid-caps climbed 0.7 percent. Gains in lenders and commodity producers pushed U.K. stocks higher yesterday, after the FTSE 100 Index’s fifth weekly advance in six. Ireland’s ISEQ Index rose 1.1 percent today.