U.K. Shares Erase Declines After Carney Cuts Bank Capital Buffer
(Bloomberg) -- Britain's shares climbed after Bank of England Governor Mark Carney lowered lenders' capital requirements.
The FTSE 100 Index rose 0.4 percent at 11:33 a.m. in London, reversing a drop of as much as 0.8 percent. After coming within 1.5 percent of entering a bull market last week, the stock gauge halted its rebound on Monday. It's still up 3.3 percent since the June 23 Brexit vote and is the best performer among major western European gauges this year.
IAG SA led gains in the FTSE 100, with oil down for a second day. Standard Life Plc lost 3.3 percent after Standard Life Investments suspended trading in its 2.9 billion-pound ($3.9 billion) U.K. Real Estate fund. Legal & General Group Plc fell 5.6 percent after Jefferies Group lowered its rating on the insurer on concern over its dividend. Real estate companies and housebuilders continued their declines.
The broader FTSE All-Share Index was little changed, while Ireland's ISEQ Index slipped for a second day. The regional Stoxx Europe 600 Index lost 1.1 percent.
To contact the reporter on this story: Cecile Vannucci in london at cvannucci1@bloomberg.net. To contact the editor responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net.
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