U.K. stocks rise, lifted by banks Lloyds up 5%, tops FTSE 100

By Clare Hutchison, MarketWatch







LONDON (MarketWatch) — British stocks traded mostly higher on Wednesday,
with early gains for banks lifting the market in morning trade.







The FTSE 100


/quotes/zigman/3173262 UK:UKX
+0.65%



rose 0.6% to 5,451.







The benchmark index gained 1% in the previous session, after
better-than-expected U.S. housing data and positive economic news from
Europe buoyed the market.









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Lloyds Banking Group PLC


/quotes/zigman/126322 UK:LLOY
+5.21%






/quotes/zigman/255656/quotes/nls/lyg LYG
+4.71%



was the index’s biggest climber in morning trade, adding 5%. Royal Bank of Scotland Group PLC


/quotes/zigman/155978 UK:RBS
+4.73%






/quotes/zigman/530544/quotes/nls/rbs RBS
-1.12%



advanced 4.2% and Barclays PLC


/quotes/zigman/152323/quotes/nls/bcs BCS
+7.18%






/quotes/zigman/301787 UK:BARC
+3.85%



increased 4%.







Insurers opened strongly, with Old Mutual PLC


/quotes/zigman/203487 UK:OML
+2.78%



climbing 2.2%. RSA Insurance Group PLC


/quotes/zigman/183955 UK:RSA
+1.97%



gaining 2.4% and Admiral Group PLC adding 1.5%.







Some resource stocks posted early gains. Mining firm Evraz PLC


/quotes/zigman/7218774 UK:EVR
+2.25%



jumped 2.6% and metals company Hammerson PLC


/quotes/zigman/132730 UK:HMSO
+2.46%



rose by 2.2%.







Mining stocks Fresnillo PLC


/quotes/zigman/510593 UK:FRES
+1.95%



and Antofagasta PLC


/quotes/zigman/139152 UK:ANTO
+3.80%



were up 1.8% and 2.6% respectively.







Sage Group PLC


/quotes/zigman/125998 UK:SGE
-1.58%



was the biggest decliner, dropping 1.6%. The software company said it had purchased almost 200,000 of its shares on Wednesday.







Some of Britain’s biggest retailers pulled back in morning trade. Tesco PLC


/quotes/zigman/156634 UK:TSCO
-1.02%



fell 1% and J Sainsbury PLC


/quotes/zigman/350043 UK:SBRY
-0.85%



declined 0.8%. Marks & Spencer Group PLC


/quotes/zigman/298234 UK:MKS
-0.31%



was down 0.3%.