NEW YORK: U.K. stocks rose to snap a two-day losing streak, helped by a rally in Unilever.
The maker of Hellmann’s mayonnaise posted the biggest gains in the benchmark FTSE 100 Index, adding 2.1 percent, after reporting second-quarter sales growth that beat estimates. Pearson Plc added 2.4 percent after saying it’s in advanced talks to sell the FT Group, which owns the Financial Times newspaper.
The FTSE 100 added 0.2 percent to 6,682.28 at 11:21 a.m. in London. The FTSE All-Share Index rose 0.2 percent, while Ireland’s ISEQ Index gained 0.1 percent.
BP Plc slumped for a seventh day, it’s longest losing streak this year, oil-and-gas stocks posted the worst performance on the Stoxx Europe 600 Index. Tullow Oil Plc also retreated. Aberdeen Asset Management Plc retreated 5.5 percent after reporting about $15.5 billion of net outflows in the three months to June. Ashtead Group Plc fell for a fourth day.
U.K. retail sales unexpectedly declined in June on a wide range of goods including food, furniture, sporting equipment and jewelry.
