NEW YORK: U.K. stocks erased earlier losses and were little changed, after closing at their lowest level since July 8.
Randgold Resources Ltd. added 3.2 percent and Fresnillo Plc gained 2.5 percent as gold increased, while BHP Billiton Ltd. climbed 2.3 percent. Reckitt Benckiser Group Plc advanced 2.1 percent after reporting a second-quarter revenue increase that beat estimates and increasing its annual growth target. Merlin Entertainments Plc lost 3.4 percent after cutting projections following a roller coaster accident. Ryanair Holdings Plc retreated 1.5 percent after cautioning that over-capacity could weigh on average fares.
The FTSE 100 Index rose 0.1 percent to 6,584.99 at 9:58 a.m. in London after sliding as much as 0.7 percent earlier. The broader FTSE All-Share Index added less than 0.1 percent, while Ireland’s ISEQ Index dropped 1.3 percent.
Pearson Plc fell 2.2 percent after announcing plans to dispose of its stake in The Economist magazine, just days after the sale of The Financial Times newspaper. 888 Holdings Plc dropped 2.1 percent after GVC Holdings Plc raised its bid for Bwin.party Digital Entertainment Plc, seeking to block 888’s agreement to acquire the online gaming company. GVC slipped 0.8 percent, while Bwin.party rose 1.2 percent.
