LONDON: U.K. stocks rose, tracking a rally in Chinese shares after increased stimulus for the world’s second-biggest economy.
Standard Chartered Plc, which gets about a third of its revenue from Greater China, climbed 2.4 percent to lead gains in lenders. Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc added at least 2 percent.
The FTSE 100 Index climbed 1.1 percent to 6,138.95 at 9:12 a.m. in London. Chinese stocks in Hong Kong rallied after a holiday as the country’s central bank reduced minimum home down payment for first-time buyers and cut a tax on passenger-vehicle purchases. The U.K.’s benchmark gauge is up 0.5 percent this week, as gains since Wednesday helped erase earlier losses.
The broader FTSE All-Share Index added 1 percent, and Ireland’s ISEQ Index rose 0.4 percent.
Among other shares active on corporate news, Legal & General Group Plc advanced 3.9 percent after entering into a pension group annuity contract with the U.S. unit of Royal Philips NV. Experian Plc slid 4.4 percent after saying hackers gained access to a database run by the company.
