Bloomberg News

U.K. Stocks Climb As ECB Said to Buy Italian Government Bonds

November 16, 2011

Nov. 16 (Bloomberg) -- U.K. stocks climbed, erasing an earlier decline, as the European Central Bank was said to buy Italian government bonds today.

The benchmark FTSE 100 Index rose 0.4 percent to 5,541.47 at 8:51 a.m. in London. The gauge earlier fell as much as 0.7 percent as Italian bond yields climbed.

Stocks reversed earlier losses after the ECB was said to have bought bonds, according to two people with knowledge of the trades. The purchases were larger-than-usual sizes and quantities, the people said.

To contact the editor responsible for this story: Sarah Jones at sjones35@bloomberg.net


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