FTSE 100 Extends Gains On Fiscal Policy U-turn Hopes
(RTTNews) - U.K. stocks rose on Friday to extend gains from the previous session as investors cheered reports of potential fiscal plan U-turn.
Media reports suggest that the government will announce a U-turn on elements of its 43-billion-pound package of unfunded tax cuts that sparked turmoil in financial markets over the past few weeks.
The benchmark FTSE 100 was up 54 points, or 0.8 percent, at 6,904 after closing 0.4 percent higher on Thursday.
Royal Mail shares slumped 12 percent. The postal service expects operating loss of about £350m in year to end of March, which could rise to £450m.
Diageo rose about 1 percent after it unveiled plans to increase its stake in East African Breweries.
Ashmore declined 2.2 percent after the investment manager said its assets under management slipped by $8 billion in its first quarter.
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