Bloomberg News

U.K. Stocks Climb; FTSE 100 Index Gains 0.7 Percent

November 16, 2011

Nov. 16 (Bloomberg) -- U.K. stocks climbed, sending the FTSE 100 Index higher for the first time in three days, as the European Central Bank was said to have bought Italian bonds.

The FTSE 100 rose 38.35, or 0.7 percent, to 5555.79 at 10:03 a.m. in London. The gauge earlier fell as much as 0.7 percent as Italian bond yields surged above 7 percent, near levels that prompted Ireland, Greece and Portugal to seek bailouts. The FTSE All-Share Index also rose 0.7 percent today and Ireland’s ISEQ Index increased 1 percent.

Stocks climbed with Italian 10-year government bonds after the ECB was said to have bought larger-than-usual sizes and quantities of the nation’s debt, according to two people with knowledge of the trades.

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


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