FTSE 100 joins European stock rally, Legal & General shines [Reuters]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
NASDAQ:AMEX Investor Relations:
merriam-webster.com/dictionary/legal
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Source: Reuters
Nov 18 (Reuters) - The UK's blue-chip index rose on Friday, as gains in insurer Legal & General and broad optimism in European markets following remarks from European Central Bank policymakers outweighed declines in energy stocks. The internationally focussed FTSE 100 (.FTSE) closed the session 0.5% higher, while marking a weekly gain of nearly 1%. The pan-European STOXX 600 (.STOXX) also ended the week on a bright note, up 1.2%, after comments from three top ECB policymakers suggested the central bank might slow down its pace of interest rate hikes. The gains followed a lacklustre session in UK markets on Thursday after Finance Minister Jeremy Hunt announced tax rises and spending cuts in a bid to restore stability to the economy, dashed by former prime minister Liz Truss's plans for unfunded tax cuts. The measures had been broadly flagged in recent days and so investors reacted with relative calm "The equity market was unsurprised by the budget because the UK market, for
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