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U.K. stocks near three-week high as miners rise, banks decline

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U.K. stocks were little changed after Friday’s rally pushed the FTSE 100 Index to its highest level in three weeks.

The benchmark gauge of large U.K. companies added 0.1 per cent at 8:28 a.m. in London, after its 0.8 per cent gain last week ended a two-week losing streak. A gauge of British commodity producers jumped 2.1 per cent on Monday, with BHP Billiton Ltd., Glencore Plc and Rio Tinto Group contributing the most to gains.

Among stocks moving on corporate news, Tesco Plc lost 1.4 per cent after rival grocer Wm Morrison Supermarkets Plc said it will cut the price of essential meat and poultry products. Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc slipped as Deutsche Bank AG recommended selling the shares.

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Paul

The author Paul