UK stocks climb after positive GDP data

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Source: Dukascopy Bank SA
© Scanpix/Reuters
UK shares climbed on Thursday on encouraging profits of the FTSE 100 majors. Moreover, UK economy grew more-than-expected in Q3, pulling the country out of the recession. The UK GDP expanded by 1%, beating forecasts of a 0.6% rise. UK shares received a boost after the national GDP data. Positive news from the US also supported UK shares. The FTSE 100 Index jumped 0.52% to trade at 5,834.83. Seven out of ten sectors within the index advanced. The best-performers were financials and basic materials. Barclays and Lloyds Banking Group gained 2.22% and 2.63% while Anglo American and BHP Billiton moved higher by 0.37% and 0.88%. Unilever was among the top-performers, jumping by 2.87%. The company reported that its sales soared more than expected last quarter. Sending the UK stock index lower, WPP lost 2.66% after cutting its sales growth target for 2012.


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Thu, 25 Oct 2012 17:42:46 GMT

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