Bloomberg News

U.K. Stocks Erase Losses on IMF Plan; FTSE 100 Gains

January 23, 2012

(Corrects size of proposed lending boost in second paragraph.)

Jan. 18 (Bloomberg) -- U.K. stocks erased losses, sending the FTSE 100 Index up 0.1 percent to 5,701.83 at 10:18 a.m. in London. The gauge earlier fell as much as 0.8 percent.

Stocks erased losses after the International Monetary Fund was said to be proposing a $500 billion expansion of its lending resources to safeguard the global economy against Europe’s debt crisis, according to an official at a Group of 20 nation.

--Editor:

To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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