UK stocks are up for the third time in four days, erasing an earlier drop after commodity and energy producers climbed with oil prices.
Anglo American, Glencore and BHP Billiton reversed earlier losses to rise at least 2.9%. Lloyds Banking Group and Royal Bank of Scotland Group added 2.5% or more, rebounding from yesterday’s drop.
The FTSE 100 Index was up 0.6% at 3.27pm, erasing an earlier decline of as much as 1.8%. The benchmark is still heading for its worst January since 2009, as the rout in oil and China’s slowdown have weighed on risk assets this year. It entered a bear market last week.
The broader FTSE All-Share Index and Ireland’s ISEQ Index have also gained at least 0.5% today.
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