LONDON: UK stocks surged 22 to 29 points in early trade on Friday, FTSE 100 index climbed 0.4 percent.
The UK blue chip index closed 0.2 percent higher at 6,828.11 points on Thursday.Global miner Anglo American took a $3.9 billion writedown on Friday, mainly on its Brazilian iron ore operations, due to weak commodity prices.
British pharmaceutical company Shire Plc has taken initial steps towards a bid for U.S. bowel drugmaker Salix Pharmaceuticals Inc and is working with advisers on a potential offer, according to people familiar with the matter.
The Bank of England may look into allegations that Europe’s biggest bank HSBC helped clients to avoid paying tax, a top BoE official said on Friday. “The allegations around HSBC raise serious issues around HSBC’s conduct,” Jon Cunliffe, the BoE’s deputy governor for financial stability, told BBC radio.
Utility Severn Trent said it was on track to meet full-year expectations.
Gold and silver miner Fresnillo said it saw an adverse impact of around $20 million on its gross profits.
Engineering group Rolls Royce said its north America CEO would retire.
The impact of low oil prices will stop pushing down British inflation in about a year’s time and there is no need to resort to more stimulus for the economy now, Bank of England Deputy Governor Jon Cunliffe said on Friday.
Copper output from BHP Billiton’s Olympic Dam mine in Australia will be cut by 60,000-70,000 tonnes this year, or more than a third of the targeted output levels, due to repair and maintenance work, the miner said on Friday.
