Bloomberg News

U.K. Stocks Advance After China Cuts Bank’s Reserve Ratio

November 30, 2011

Nov. 30 (Bloomberg) -- U.K. stocks erased losses, sending the FTSE 100 Index higher, after China said it will cut its reserve requirement ratio for banks.

The FTSE 100 jumped 0.5 percent to 5,362.78 at 11:08 a.m. in London. The gauge earlier fell as much as 1.2 percent.

China’s central bank said it will cut reserve requirement ratio for banks by 0.5 percentage points from Dec. 5, according to a statement on its website today.

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


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