UK stocks advance after US jobless claims

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Source: Dukascopy Bank SA
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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