By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Standard Life PLC and Barclays PLC led
U.K. stocks higher Wednesday on the back of well-received earnings
reports, while mining firms tracked metals prices higher.
The FTSE 100 index rose 0.3% to 6,423.68, adding to a 2% gain
from Tuesday.
Standard Life jumped 5.5%, after posting a better-than-expected
24% rise in sales for the first quarter, boosted by strong
performances in the U.K. and Canada.
Shares of Barclays (BCS) added 1.3%, after the bank posted a
first-quarter net profit of 839 million pounds ($1.28 billion) vs.
a loss of GBP598 million in the same quarter last year. The bank
said earnings were hit by GBP514 million in restructuring charges,
which should put it on the right path.
Mining firms also posted solid gains, as metals prices rose
across the board.
Shares of Vedanta Resources PLC gained 4.6%, Rio Tinto PLC (RIO)
put on 4.5% and Fresnillo PLC picked up 4.2%.
Oil firms further rose alongside rising oil prices. BP PLC (BP)
climbed 1%, Royal Dutch Shell PLC (RDSB) gained 0.9% and BG Group
PLC traded 0.8% higher.
On a more downbeat note in London, shares of Associated British
Foods PLC shaved off 2.4%, following a 8.1% rally the prior
day.
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