UK stocks rebound from one-month low

UK stocks advanced, with the FTSE 100 Index rebounding from Tuesday's drop to a one-month low, led by Ashtead Group. Ashtead jumped 5.8 per cent after raising its full-year earnings forecast.

TUI Travel gained 1.1 per cent as TUI, the German tour operator merging with the company, reported full-year earnings that beat analysts' expectations. Stagecoach Group lost 4.7 per cent after lowering profit expectations for its UK bus business.

The FTSE 100 Index added 20.74 points, or 0.3 per cent, to 6,550.21 at 8:53 am in London.

The broader FTSE All-Share Index rose 0.4 per cent today, and the ISEQ Index climbed 0.5 per cent.

The FTSE 100 retreated 2.1 per cent on Tuesday with Tesco leading grocers lower after the company reduced its full-year earnings forecast.

Bloomberg