UK shares jumped after a two-week rally as a report showed Japan’s economy rose and China exports grew.
Capital Plc added 1.2%, benefiting from an upgrade by Numis Securities Ltd. Lloyds Banking Group Plc plunged 1.7% at set a price bracket for its TSB unit that was below the assets’ valuation.
At the close in London, the FTSE 100 Index advanced 16.79 points or 0.2% to 6,875. The stocks gauge has added 6.6% against the background of increased deals. The FTSE All-Share Index edged higher 0.2%. Ireland’s ISEQ Index increased 0.3%.
“Economic momentum is positive and central banks are providing lots of support. The U.K. market relies on global economic growth. If we get better data globally, then the stocks exposed to emerging markets will do well,” strategist Gerard Lane of Liverpool, England-based Shore Capital Group Ltd told Bloomberg in an interview.
The number of stocks that changed hands in FTSE 100 companies was 40% below the average for the last 30 days. Several stock markets in Europe including Denmark and Norway paused trading today for a public holiday.
Data from Japan showed that the country’s gross domestic product grew 1.6% in the first three months of 2014. The economy soared 6.7% in an annualized percentage.
China’s outward shipments jumped 7% in May from the previous year, data from the country’s customs administration said on Sunday. Imports sank 1.6%, which represents a trade margin of $35.92 billion, the widest in five years.
Capita advanced 1.2% to 1,143 pence, after Numis raised its ratings on the stock to buy from hold.
A measure of household goods and construction businesses added 1.1%.
According to the Guardian, mining stocks propelled UK markets higher, closer to hitting record highs. Chinese news helped commodity firms rise, with Anglo American adding 20 pence to trade at 14.85 pounds.
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