UK stocks take positive start, FTSE 100 gains 0.7pc

LONDON: U.K. stocks advanced, with the FTSE 100 Index poised for its biggest quarterly gain in two years.

Kingfisher Plc gained 3.1 percent after saying its purchase of France’s third-largest home-improvement chain won’t proceed. Carnival Plc advanced 1.4 percent after Numis Securities recommended investors buy shares of the cruise-ship operator. Compass Group Plc climbed 1.1 percent after saying organic-sales growth is heading toward 5.5 percent for the first quarter, more than estimated by analysts. BG Group Plc fell 1.8 percent after BMO Capital Markets cut its rating on the natural-gas producer to the equivalent of a hold.

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The FTSE 100 added 0.7 percent to 6,903.6 at 9:31 a.m. in London. The benchmark gauge sank 2.4 percent last week and is down 0.6 percent this month, trimming its quarterly advance to 5.2 percent.

The FTSE All-Share Index also climbed 0.7 percent on Monday, and Ireland’s ISEQ Index added 0.3 percent.