U.K. Stocks Reverse Decline in Final Hour to Rise for Sixth Dayby
U.K. stocks capped their longest rally since October, erasing earlier losses in the final hour of trading as energy producers climbed.
Royal Dutch Shell Plc and BP Plc gained at least 1 percent, reversing earlier losses as crude surged. Exporters including British American Tobacco Plc and Unilever added more than 2 percent as the pound fell. Old Mutual Plc slid 3.8 percent after its first-half profit missed estimates.
The FTSE 100 Index rose 0.7 percent at the close, reversing an earlier loss of as much as 0.8 percent. The benchmark has climbed 4.2 percent in six sessions, boosted by stimulus measures by the Bank of England and better-than-forecast U.S. data. The FTSE 250 Index of mid-cap shares climbed 0.6 percent today.