Barclays Leads U.K. Stock Gains as Banks Head for Two-Week Highsby
British equities climbed for a third day for the first time since mid-August, with financial firms leading gains.
Barclays Plc rose 2.7 percent, helping push a gauge tracking the nation’s lenders to its highest level in almost two weeks, as bond yields increased after the Bank of Japan refrained from making deeper cuts to negative interest rates. Insurers Aviva Plc and Prudential Plc also added more than 1.7 percent, while miners headed for their highest prices in almost a month.
The FTSE 100 Index climbed 0.5 percent at 8:39 a.m. in London, trimming its decline from last month’s high to 1.1 percent. The FTSE 250 Index of mid-cap shares gained for a fifth day, while the FTSE Small Cap excluding investment trusts index added 0.3 percent. The regional Stoxx Europe 600 Index rose 0.9 percent, led by banks from Italy and Spain.