By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Banks led U.K. stocks higher in an
upbeat session on Monday, while resource firms added pressure after
oil and metals prices showed broad-based losses.
The FTSE 100 index added 0.2% to 6,737.26, building on gains
from Friday, when the index climbed to the highest closing level
since October 2007.
Shares of budget airline EasyJet PLC jumped 4.6%, after peer
firm Ryanair Holdings PLC reported a 13% rise in full-year profit
and a 5% increase in passengers. Shares of Ryanair gained 5.9% in
Dublin.
Banks were also on the rise, as investors moved into perceived
risk sectors. Royal Bank of Scotland Group PLC (RBS) climbed 4.1%,
Lloyds Banking Group PLC (LYG) added 1.1% and heavyweight HSBC
Holdings PLC (HBC) gained 0.9%.
United Utilities Group PLC put on 1.7%, after Goldman Sachs
lifted the firm to buy from neutral.
On a more downbeat note in London, mining firms were on the
decline as metals prices moved south. Fresnillo PLC lost 2.4%,
Eurasian Natural Resources Corp. gave up 2.1% and Randgold
Resources Ltd. shaved off 1.5%.
Oil firms also moved lower, tracking oil prices lower. BG Group
PLC fell 0.6%, Royal Dutch Shell PLC (RDSB) lost 0.5% and BP PLC
(BP) eased 0.3%.
Outside the main index in London, shares of FirstGroup PLC sank
22%, after the transport operator reported an 87% fall in full-year
pretax profit and it said it won't pay a final dividend for fiscal
2013.
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