U.K. shares close to their highest in five years

Source: Dukascopy Bank SA
U.K. stocks traded close to a five-year high on Thursday, as rallying shares of financial and telecommunications groups led to gains in the benchmark index. The FTSE 100 advanced 0.4%, or 24.56 points, to 6,508.20. More than half of companies listed in the index posted gains in their share prices. Aggreko Plc, the world's largest temporary power generation company, jumped 6.4%, supporting a 0.8% rise in the industrial sector. Prudential Plc, the biggest British insurance company, was among the top performers with a 2.7% surge on positive financial data for 2012. Standard Chartered Plc gained 3.5%, as the bank said its corporate profit for the last year rose compared to 2011, yet missing the analyst estimates. Meanwhile, Rio Tinto PLC lost 2.13%, as the company plans to sell off a part of its assets in New Zealand. The mining company's drop added to losses in basic materials sector. Fresnillo PLC dropped 1.2% to 1,466 pence on speculation the company will cut its dividend by at least 50% due to declining profit.

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Thu, 14 Mar 2013 17:14:11 GMT

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