U.K. Stocks Climb as Carney Says BOE Action Cut Recession Riskby
U.K. stocks advanced as Governor Mark Carney said the risk of a domestic recession had receded because of the Bank of England’s actions after the Brexit vote.
Royal Dutch Shell Plc and BP Plc led energy producers higher as Brent held above $47 a barrel. Among stocks moving on corporate news, Ashtead Group Plc rose 3.3 percent after the building-equipment rental company said full-year results will probably beat expectations.
The FTSE 100 Index climbed 0.3 percent to 6,846.58 at the close of trading. The FTSE 250 Index of mid-cap shares also gained 0.3 percent, while Ireland’s ISEQ Index added 0.1 percent. The regional Stoxx Europe 600 Index increased 0.3 percent.
In testimony to lawmakers today, Carney stood by the actions of the BOE around the Brexit vote, and said that data indicated the U.K. economy is a “bit stronger” than the central bank had forecast.