By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- The U.K.'s FTSE 100 advanced for a
fourth straight day on Monday, with Tesco PLC topping the lost of
advancers.
The FTSE 100 index gained 0.7% to close at 6,611.25, ending at
the highest level since late September.
Shares of Tesco jumped 4.6% "amidst hope that the worst may be
behind the retailer," according to Tony Cross, market analyst at
Trustnet Direct. Before the climb on Monday, Tesco shares had lost
20% since Sep, 19 when its 263 million pounds ($418 million)
accounting scandal first was reported.
Mining firms were higher earlier in the day, but crept lower
toward the close as metals prices dived on a stronger dollar.
Randgold Resources Ltd. dropped 1.1% and Rio Tinto PLC (RIO) lost
0.5%.
Outside the main index in London, Serco Group PLC stumbled 32%
after the outsourcing company cut its full-year financial guidance
and said it plans to raise 550 million pounds ($873.2 million) in a
rights issue next year.
You're invited: A free evening event focusing on investing
opportunities in Europe
Will you be in London on Dec. 3? Then you're invited to our
MarketWatch Investing Insights event, "The worse Europe gets, the
more you should invest"
Governments are in trouble, reform efforts have stalled,
unemployment is climbing... the news from the eurozone is bleak.
And investors are fleeing. But that's a mistake: The worse the
economic data from Europe get, the more you should be buying. Why?
Because actions by the ECB will boost asset prices and the stock
market in particular. And, big exporters can grow sales. Lower
costs and steady sales translate into higher profits and dividends.
Join us for an evening of cocktails and conversation to explore
these opportunities.
Our panel will be led by MarketWatch Columnist Matthew Lynn, a
renowned financial journalist based in London and the author of
"Bust: Greece, the Euro and the Sovereign Debt Crisis." He'll be
joined by Mark Hulbert, MarketWatch columnist and editor of the
Hulbert Financial Digest. This event is free, but RSVPs are
required. It will be held Wednesday evening, Dec. 3, in London. For
more information or to RSVP, send an email to
marketwatchevent@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires