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Glencore Rally Helps UK Stocks Pare Weekly Decline
World Economy

Glencore Rally Helps UK Stocks Pare Weekly Decline

UK stocks rose for a second day to trim their weekly drop, fueled by a rally in Glencore Plc, according to Bloomberg. Glencore climbed 3.6% after investor Blackrock Inc. said the company’s plan to cut debt was a ‘positive step.’ None of the members of the FTSE 100 Index fell more than 1%. The FTSE 100 rose 0.6% to 6,377.89 at 9:07 a.m. in London, trimming a weekly decline that was mostly driven by weak economic data out of China. Before then, an eight-day rally had been fueled by gains in commodity producers and optimism that the Federal Reserve won’t rush to raise rates. The broader FTSE All-Share Index climbed 0.6 percent today, while Ireland’s ISEQ Index added 0.9%.

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