U.K. Stocks Rebound After Weekly Loss as Oil, Metal Prices Riseby
U.K. stocks rebounded from their second weekly decline as crude and metals prices climbed.
Royal Dutch Shell Plc and Tullow Oil Plc added at least 1.9 percent as oil recovered from the lowest close in more than a month after clashes disrupted shipments from Libya. Glencore Plc and Anglo American Plc advanced 5.7 percent or more as commodities rose.
Builders gained, with Barratt Development Plc adding 1.2 percent and Berkeley Group Holdings Plc climbing 2.5 percent as a report showed London house prices rebounded in September. Mitie Group bucked the trend, plunging 29 percent -- the most on record -- after the property-services supplier warned profit this year will miss its target.
The FTSE 100 Index gained 1.5 percent to 6,813.55 at the close of trading in London. Shares fell on Friday, capping a 1 percent weekly drop, as lenders tumbled after Deutsche Bank AG’s rebuff of a U.S. Justice Department claim to settle a probe tied to mortgage-backed securities sparked a selloff in banks across Europe.
The FTSE 250 Index of mid-cap shares rose 0.2 percent today and the FTSE Small Capitalisation Index Ex Investment Trusts climbed 0.1 percent. The regional Stoxx Europe 600 Index gained 1 percent.