Glencore Leading Miner Gains Propels Rebound in U.K. Stocks

U.K. stocks rebounded from a weekly loss after Glencore Plc led advances in commodity producers.

After posting its biggest weekly decline since its 2011 London listing, Glencore said it will sell assets and shares to cut its net debt. Shares jumped 7.7 percent. Miners Antofagasta Plc and Anglo American Plc gained 2 percent or more. Associated British Foods Plc slid 2.2 percent after forecasting a decline in annual operating profit.

The FTSE 100 Index added 0.9 percent at 9:20 a.m. in London, after sliding 3.3 percent last week amid concern over a China slowdown and an impending Federal Reserve rate increase. The benchmark gauge has fallen 9.4 percent since China devalued its currency on Aug. 11.

The broader FTSE All-Share Index also climbed 0.9 percent today, while and Ireland’s ISEQ Index rose 0.2 percent.

Source: Bloomberg