U.K. stocks advanced for a fifth day, their longest streak of gains this year, as Federal Reserve Chairman Janet Yellen signaled that she will continue to taper the bank’s asset-purchase program at future meetings.
Sports Direct International Plc, the U.K.’s largest sports retailer, bought a 4.6 percent stake in Debenhams Plc and said it wants to work with the department- store chain to create value for shareholders.
Sports Direct International Plc, the U.K. sporting-goods retailer controlled by billionaire Mike Ashley, sold a recently acquired stake in Debenhams Plc and replaced it with a 64 million-pound ($105 million) wager on the department-store chain’s share price.
European stocks advanced for a second day, after the Stoxx Europe 600 Index posted its first full-weekly gain of 2014, as a global banking-supervision body eased rules linked to minimum-capital requirements for lenders.
Dan Thomas looks up at the rain clouds hovering above St. Paul’s cathedral in London and then smiles approvingly at the two golf umbrellas he’s just bought for 5 pounds ($8) from a branch of Sports Direct.
U.K. stocks fell to a two-month low as investors weighed reports on U.S. retail sales and jobless claims amid concern the Federal Reserve will decide to pare its monthly bond purchases sooner than expected.
Sports Direct International Plc, the U.K.’s largest sports retailer, headed for its highest close since first listing in London in February 2007, amid reports the company will pay employee bonuses linked to profit targets.