UK stocks climb on Eurozone's optimism

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Source: Dukascopy Bank SA
UK stocks halted their decline on Friday, climbing by 0.15% to trade at 5,843.40 at GMT 12:00. UK equities were boosted by optimism over the Eurozone after Angela Merkel backed up actions of the ECB and promised to preserve the Euro by any means. Sending UK stocks higher, Spanish banks are preparing to receive bailout funds. Seven out of ten industries included in the index rose. The largest gainer was technology sector, with Sage Group rising by 0.84% after previous slump of 1.66%. Financial sector also was strong. Lloyds Banking Group, Royal Bank of Scotland and Barclays advanced by 2.30%, 1.54% and 2.74%, respectively. On the downside were basic materials and health care sectors. Rio Tinto, BHP Billiton and Eurasian Natural Resources dropped by 1.18%, 0.71% and 1.50%, respectively. Meanwhile, Pennon, utility company, sank 1.47% after reporting that its overall financial performance is in compliance with expectations.

 

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