UK stocks advance after US jobless claims

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Source: Dukascopy Bank SA
© Scanpix/AFP
UK shares moved higher on Thursday after US jobless claims fell more than expected last week. However, UK equities were depressed by unexpected Spain's debt rating cut by the S&P. Moreover, global growth concerns continued to weight on the riskier assets. The FTSE 100 Index soared 0.79% to trade at 5,822.46. Seven out of ten sectors within the index gained. The top-performers were industrials and basic materials. Shares of Bunzl, Meggitt and Rolls-Royce Holdings rose 0.27%, 0.88% and 1.32%, respectively. Among basic materials sector, BHP Billiton, Anglo American and Eurasian Natural Resources Corp. climbed 1.22%, 0.74% and 2.99%, respectively. Meanwhile, the top-gainer was Burberry, soaring 11.37% after announcing that turnover in H1 of 2012 surged by annualized 6%. Dragging the UK stock index lower, utilities inched down. National Grid dropped 0.51%.


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