By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.K.'s benchmark stock index ended at
the highest closing level since September 2000 on Monday, boosted
by banking shares and a rally for budget airline EasyJet PLC.
The FTSE 100 index added 0.5% to close at 6,755.63, 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% to 12.35 pounds
($18.78), after Citigroup lifted the price target on the stock to
GBP13.30 from GBP12.10.
Additionally, peer firm Ryanair Holdings PLC reported a 13% rise
in full-year profit and a 5% increase in passengers, which helped
support the discount airlines. Shares of Ryanair gained 6.9% in
Dublin.
Banks were also on the rise. Royal Bank of Scotland Group PLC
(RBS) climbed 4.5%, after Numis lifted the bank to buy from hold,
according to media reports.
Shares of HSBC Holdings PLC (HBC) gained 1.5%, after the bank
said John Thornton, chairman of its remuneration committee and its
North America business since 2008, will step down this month.
United Utilities Group PLC put on 2.6%, after Goldman Sachs
lifted the firm to buy from neutral.
Another utility firm, SSE PLC added 2.8%, after Goldman Sachs
took the company off its conviction sell list.
On a more downbeat note in London, mining firms were on the
decline as metals prices moved south during U.K. trading hours.
Fresnillo PLC lost 3.3%, Eurasian Natural Resources Corp. gave up
2.8% and Randgold Resources Ltd. shaved off 1.3%.
Outside the main index in London, shares of FirstGroup PLC sank
30.5%, 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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