By Sara Sjolin, MarketWatch
COPENHAGEN (MarketWatch) -- The U.K.'s FTSE 100 index headed for
a fifth straight day of gains on Tuesday, with banks and oil firms
helping lift the benchmark index in thin trade.
The index rose 0.4% to 6,702.22, setting it on track for the
highest closing level since Nov. 18. Trading in the FTSE closes
early at 12:30 p.m. London time, or 7:30 a.m. Eastern Time, for the
Christmas break. The market will reopen on Friday.
On Monday, the benchmark rallied 1.1%, which was enough to send
it into positive territory for the month.
"Lighter volumes are sure to be helping the Santa Rally and
making sure December closes positive, so beware of the possibility
of a correction especially following gains of nearly 5% in just
over a week," said Mike van Dulken, head of research at Accendo
Markets, in a note to clients.
"But a revisit of the 6820 end-October high is certainly not out
of the question around the new year," he added.
Among notable movers in London, shares of British Land Co. PLC
rose 1.4% after the property-development firm said it has formed a
strategic partnership with Singapore's sovereign-wealth fund, GIC,
for the Broadgate office complex located near Liverpool Street
station in London.
Oil firms were rising, tracking oil prices higher. Shares of BG
Group PLC picked up 0.8%, BP PLC (BP) added 0.6% and Royal Dutch
Shell PLC (RDSB) inched 0.1% higher.
Banks rose, with shares of Royal Bank of Scotland Group PLC
(RBS) up 0.8%, Barclays PLC (BCS) rising 0.4% and sector
heavyweight HSBC Holdings PLC (HSBC) 0.3% higher.
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