LONDON MARKETS: U.K. Stocks Post 6th Straight Win After ECB Launches Bond-buying Plan

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- U.K. stocks marked a sixth consecutive advance Thursday, riding higher, along with other European markets, after the European Central Bank said it's ready to unleash more liquidity into the financial system.

The FTSE 100 climbed 1% to 6,796.63 after ECB President Mario Draghi said the bank in March will begin buying 60 billion euros ($69.8 billion) a month in national and agency bonds through September 2016. The Stoxx Europe 600 finished at its highest close in more than seven years.

Financial stocks were pushed up, with HSBC PLC tacking on 2.4% and Royal Bank of Scotland PLC gaining 1.5%. Shares of London Stock Exchange PLC finished up 1.7%.

Pressure has been growing on the ECB to launch more-aggressive efforts to combat low inflation and encourage economic growth in the eurozone, the U.K.'s biggest trading partner. In his press conference, Draghi said economic risks remain to the downside, but that inflation should pick up later this year.

Elsewhere in the FTSE 100, Royal Mail PLC shares jumped 3.6% after the delivery company said it saw the 1% revenue growth for the nine months ended Dec. 28 that it had expected, citing its performance over the Christmas period.

Also higher, shares of RSA Insurance Group PLC rose 3.3% following a ratings upgrade to outperform from neutral, at Credit Suisse.

Shares of Barclays PLC finished 2.3% higher. They had been lower earlier in the session after the New York Attorney General's office on Wednesday filed an amended complaint alleging that the bank misled clients about its dark-pool operation.

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