U.K. Stocks Rebound With European Markets After Three-Day Dropby
British equities climbed for the first time in four days in a broad market rebound, amid optimism about central-bank support as Bank of England Deputy Governor Minouche Shafik said more easing will probably be needed.
The FTSE 100 Index advanced 0.9 percent at 9:23 a.m. in London, with 91 of its shares rising. The BOE, which lowered the key interest rate in August, has said another cut could be in the cards this year. The FTSE 250 Index of mid-cap shares rose 1 percent from its lowest level since Aug. 8, while the FTSE Small Cap excluding investment trusts index climbed 0.4 percent.
Among the biggest contributors to the FTSE 100’s move, Royal Dutch Shell Plc Class B shares climbed 1.4 percent as oil stabilized before an OPEC meeting in Algiers. Miners Rio Tinto Group and BHP Billiton Ltd. rose more than 2 percent after two days of declines. J Sainsbury Plc fell 2.2 percent after reporting weaker sales.