UK stocks rally after US jobs data

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Source: Dukascopy Bank SA
UK stocks erased previous losses on inspiring headlines from the US job market. US non-farm payrolls increased much more than expected in July. FTSE 100 Index surged by 1.53% to trade at 5,755.58 at the time of writing. Financials pushed UK stock index higher, soaring by 3.31%. Barclays, Royal Bank of Scotland and Lloyds Banking Group rose 3.94%, 4.06% and 3.2%, respectively. Meanwhile, insurance firms were mixed; RSA Insurance Group slid 0.09% while Aviva soared by 5.22%. Aviva reported that it agreed with Alliance on transfer of GBP1.2 billion range of Aviva's responsible and sustainable funds. On the downside was International Consolidated Airlines Group, losing 3.01% after announcing an operating loss of EUR42 million in Q2.

 

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Fri, 03 Aug 2012 19:24:00 GMT

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