Banks lift FTSE 100 to second day of gains

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) — U.K. stocks rose for a second straight day on Wednesday, as banks advanced on hopes of affordability after a recent sell-off over interest-rate concerns.

The benchmark /zigman2/quotes/210598409/delayed UK:UKX +0.27%  rose 1% to close at 6,165.48, adding to a 1.2% gain from Tuesday.

Shares of Aberdeen Asset Management PLC  jumped 4.8% after HSBC lifted the investment firm to overweight from neutral.

“Aberdeen’s share price declined by 28% since its peak in May: Uncertainty about the timing of tapering of quantitative easing (QE) in the U.S. and negative newsflow from China triggered a sharp selloff in a number of markets over the past few weeks,” the analysts said.

“However, we believe that market has overreacted on the issue of performance and outflows,” they added.

Reuters

Banks rise in London on Wednesday.

Banks were also climbing, rising with the broader European banking sector. Shares of Standard Chartered PLC /zigman2/quotes/200125072/delayed UK:STAN +0.51%  added 1.5%, Lloyds Banking Group PLC /zigman2/quotes/202285510/delayed UK:LLOY -0.22%   /zigman2/quotes/200709414/composite LYG +0.44%  rose 2%, HSBC Holdings PLC /zigman2/quotes/203901799/delayed UK:HSBA +1.35%    /zigman2/quotes/202687335/delayed HK:5 +1.46%  picked up 1.1% and Barclays PLC /zigman2/quotes/208409333/delayed UK:BARC +1.61%   /zigman2/quotes/206581728/composite BCS +1.39%  gained 2%.

Markets in London also mirrored solid gains seen in Europe and the U.S. where investors picked up stocks recently beaten by worries that the Federal Reserve will taper its asset purchases. Data showing German consumers are optimistic about the summer also helped lift sentiment.

Among other notable movers in London, shares of Legal & General PLC /zigman2/quotes/201125471/delayed UK:LGEN +1.43%  climbed 2.1% after the insurance firm said it would buy Lucida PLC, a U.K. annuity buyout firm, for 151 million pounds ($232.9 million).

Shares of Croda International PLC /zigman2/quotes/206442951/delayed UK:CRDA +1.93%  picked up 3.1% after UBS lifted the chemicals firm to neutral from sell.

Victrex PLC /zigman2/quotes/202943820/delayed UK:VCT +0.93%  got the same treatment from UBS, helping lift the shares 2.1%.

Mining firms, however, curbed the gains for the London benchmark, as most metals prices moved lower.

Shares of Anglo American PLC /zigman2/quotes/201381512/delayed UK:AAL +1.22%  shaved off 3.3%, Antofagasta PLC /zigman2/quotes/200173667/delayed UK:ANTO +1.14%  dropped 2.1% and BHP Billiton PLC   /zigman2/quotes/208108397/composite BHP +3.82%   /zigman2/quotes/201448516/delayed AU:BHP +2.46%  fell 1%.

Shares of Polymetal International PLC /zigman2/quotes/204469675/delayed UK:POLY +0.65%  dropped 5.7%, even as Citigroup lifted the gold miner to neutral from sell.

Shares of Direct Line Insurance Group PLC /zigman2/quotes/201952264/delayed UK:DLG +1.52%  climbed 3.8% after the U.K. firm announced plans to cut costs by 130 million pounds ($200 million) and cut about 2,000 jobs.

/zigman2/quotes/210598409/delayed

Add to watchlist UK:UKX

FTSE 100 Index

UK : FTSE UK

7,585.46

+20.54 +0.27%

Volume: 579,898

May 27, 2022 4:57p

/zigman2/quotes/200125072/delayed

Add to watchlist UK:STAN

Standard Chartered PLC

UK : U.K.: London

627.00 p

+3.20 +0.51%

Volume: 6.15M

May 27, 2022 4:35p

P/E Ratio

14.47

Dividend Yield

1.45%

Market Cap

£18.51 billion

Rev. per Employee

£167,448

/zigman2/quotes/202285510/delayed

Add to watchlist UK:LLOY

Lloyds Banking Group PLC

UK : U.K.: London

45.24 p

-0.10 -0.22%

Volume: 99.55M

May 27, 2022 4:35p

P/E Ratio

6.06

Dividend Yield

4.42%

Market Cap

£31.32 billion

Rev. per Employee

£724,994

/zigman2/quotes/200709414/composite

Add to watchlist LYG

Lloyds Banking Group PLC ADR

US : U.S.: NYSE

$ 2.27

+0.01 +0.44%

Volume: 3.35M

May 27, 2022 4:00p

P/E Ratio

5.51

Dividend Yield

4.49%

Market Cap

$39.38 billion

Rev. per Employee

$997,086

/zigman2/quotes/203901799/delayed

Add to watchlist UK:HSBA

HSBC Holdings PLC (UK Reg)

UK : U.K.: London

532.40 p

+7.10 +1.35%

Volume: 19.90M

May 27, 2022 4:35p

P/E Ratio

12.94

Dividend Yield

3.72%

Market Cap

£105.60 billion

Rev. per Employee

£200,552

/zigman2/quotes/202687335/delayed

Add to watchlist HK:5

HSBC Holdings PLC (HK Reg)

HK : Hong Kong

$ 51.95

+0.75 +1.46%

Volume: 27.96M

May 27, 2022 4:08p

P/E Ratio

11.85

Dividend Yield

3.78%

Market Cap

$1042.28 billion

Rev. per Employee

$2.13M

/zigman2/quotes/208409333/delayed

Add to watchlist UK:BARC

Barclays PLC

UK : U.K.: London

170.38 p

+2.70 +1.61%

Volume: 44.88M

May 27, 2022 4:35p

P/E Ratio

N/A

Dividend Yield

3.52%

Market Cap

£28.06 billion

Rev. per Employee

£276,176

/zigman2/quotes/206581728/composite

Add to watchlist BCS

Barclays PLC ADR

US : U.S.: NYSE

$ 8.74

+0.12 +1.39%

Volume: 4.07M

May 27, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

3.57%

Market Cap

$35.28 billion

Rev. per Employee

$377,068

/zigman2/quotes/201125471/delayed

Add to watchlist UK:LGEN

Legal & General Group PLC

UK : U.K.: London

262.20 p

+3.70 +1.43%

Volume: 11.24M

May 27, 2022 4:35p

P/E Ratio

8.05

Dividend Yield

7.04%

Market Cap

£15.34 billion

Rev. per Employee

£1.28M

/zigman2/quotes/206442951/delayed

Add to watchlist UK:CRDA

Croda International PLC

UK : U.K.: London

6,882.00 p

+130.00 +1.93%

Volume: 210,058

May 27, 2022 4:35p

P/E Ratio

29.99

Dividend Yield

1.45%

Market Cap

£9.42 billion

Rev. per Employee

£308,003

/zigman2/quotes/202943820/delayed

Add to watchlist UK:VCT

Victrex PLC

UK : U.K.: London

1,733.00 p

+16.00 +0.93%

Volume: 62,262

May 27, 2022 4:35p

P/E Ratio

21.53

Dividend Yield

3.44%

Market Cap

£1.49 billion

Rev. per Employee

£364,319

/zigman2/quotes/201381512/delayed

Add to watchlist UK:AAL

Anglo American PLC

UK : U.K.: London

3,803.00 p

+46.00 +1.22%

Volume: 2.30M

May 27, 2022 4:35p

P/E Ratio

7.66

Dividend Yield

5.63%

Market Cap

£50.25 billion

Rev. per Employee

£474,259

/zigman2/quotes/200173667/delayed

Add to watchlist UK:ANTO

Antofagasta PLC

UK : U.K.: London

1,470.00 p

+16.50 +1.14%

Volume: 728,260

May 27, 2022 4:35p

P/E Ratio

15.46

Dividend Yield

7.68%

Market Cap

£14.33 billion

Rev. per Employee

£201,170

/zigman2/quotes/208108397/composite

Add to watchlist BHP

BHP Group Ltd. ADR

US : U.S.: NYSE

$ 71.02

+2.61 +3.82%

Volume: 2.34M

May 27, 2022 4:00p

P/E Ratio

10.83

Dividend Yield

9.86%

Market Cap

$152.63 billion

Rev. per Employee

N/A

/zigman2/quotes/201448516/delayed

Add to watchlist AU:BHP

BHP Group Ltd.

AU : Australia: Sydney

$ 43.67

+1.05 +2.46%

Volume: 8.36M

May 27, 2022 4:10p

P/E Ratio

9.82

Dividend Yield

10.98%

Market Cap

$215.72 billion

Rev. per Employee

N/A

/zigman2/quotes/204469675/delayed

Add to watchlist UK:POLY

Polymetal International PLC

UK : U.K.: London

231.50 p

+1.50 +0.65%

Volume: 906,551

May 27, 2022 4:35p

P/E Ratio

1.69

Dividend Yield

15.41%

Market Cap

£1.09 billion

Rev. per Employee

£147,143

/zigman2/quotes/201952264/delayed

Add to watchlist UK:DLG

Direct Line Insurance Group PLC

UK : U.K.: London

260.00 p

+3.90 +1.52%

Volume: 2.39M

May 27, 2022 4:35p

P/E Ratio

10.78

Dividend Yield

8.73%

Market Cap

£3.34 billion

Rev. per Employee

£329,052