By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) — London stocks rose on Thursday, led by shares of Unilever PLC and Anglo American PLC after well-received results by those companies, as higher commodity prices lifted shares of metals stocks across the board.
A bigger-than-expected gain in growth in the U.K. economy also supported the FTSE 100 index UK:UKX +0.41% , which rose 0.5% to 5,834.03.
The index broke a three-session losing streak the prior day, closing up 0.1% to 5,804.78.
The British pound GBPUSD +0.5594% extended gains against the dollar after data showed the U.K. economy returned to growth in the third quarter, rising 1% and surpassing estimates. Read: Pound jumps as U.K. economy returns to growth
Shares of Unilever UL 0.00% NL:UNA +3.28% UK:ULVR +2.87% rose 2.8% after the Anglo-Dutch consumer-products group reported a 10% rise in third-quarter sales, helped by price increases. But Chief Executive Paul Polman said the “environment will remain challenging.” Read: Unilever warns of uncertainty as sales rise
Mining stocks were higher across the board, lifted by stronger commodity prices — December gold GCZ2 +0.83% was last up more than $15 to $1,717, while January platinum PAZ2 +2.07% PLF3 +1.48% jumped $24 to |$1,587.20 — and earnings.
Anglo American PLC UK:AAL +1.36% rose 2% after the miner reported third-quarter production rises across five commodities, with platinum an exception owing to strikes in South Africa.
Shares of Fresnillo PLC UK:FRES +3.39% rose more than 3% after the miner said its board has approved a feasibility study to develop a $500 million San Julian silver project.
BHP Billiton PLC UK:BLT +0.98% BHP +0.64% AU:BHP +0.17% and Rio Tinto PLC UK:RIO +0.90% RIO 0.00% AU:RIO +0.42% rose more than 1.3%. Xstrata PLC UK:XTA +1.13% rose 1.5%.
Banks were also higher across the board, with Standard Chartered PLC UK:STAN +1.28% and Barclays PLC UK:BARC +1.07% BCS -1.34% each up around 1.5%. Lloyds Banking Group PLC UK:LLOY +1.33% LYG +0.39% rose nearly 2%.
On the downside, shares of WPP PLC UK:WPP -2.54% dropped 2.7% after the firm projected full-year sales-growth expectations of 2.5% to 3%, saying it sees softness in the last quarter of the year.
Barbara Kollmeyer is an editor for MarketWatch in Madrid.
