U.K. Stocks Advance for a Fifth Day as Entertainment One Surgesby
U.K. stocks rose, capping their longest winning streak since Brexit, as investors assessed deal activity and corporate earnings.
Entertainment One Ltd. rallied 10 percent after the owner of the “Peppa Pig” cartoon character said it rejected a takeover offer by ITV Plc and suggested it’s seeking a higher price. G4S Plc jumped 16 percent after the security-services provider posted a revenue increase and said it sees no significant impact from the U.K.’s vote to leave the European Union. Prudential Plc climbed 2.2 percent after its profit beat analyst forecasts.
The FTSE 100 Index added 0.2 percent at the close. The benchmark has climbed 3.5 percent in five sessions, boosted by Bank of England stimulus measures aimed at limiting the fallout from the U.K.’s vote to leave the European Union, and stronger-than-forecast U.S. payrolls. The FTSE 250 Index of mid-caps was little changed today.