Foreign shares traded in the United States rose on Thursday as investors welcomed financial results from European banks and US data showing the labour market remained on the mend. The BNY Mellon index of leading American Depository Receipts rose 0.6 percent, while the Standard & Poor's 500 index closed up 0.4 percent. The BNY Mellon index of leading European ADRs rose 0.9 percent.
The UK benchmark closed up 21.34 points, or 0.4 percent, at 5,937.89. Banking stocks led the advance after Royal Bank of Scotland reported an in-line loss, reassuring investors used to bad news from the sector. US-listed shares of Royal Bank of Scotland rose 5.4 percent to $9. Shares of Lloyds Banking Group rose before its full-year results due on Friday and after its majority-owned upmarket wealth manager, St James's Place, promised a significant dividend increase for 2011 and 2012.
US-listed shares of Lloyds Banking Group gained 4.6 percent to $2.27. Barclays PLC rose 1.9 percent to $15.25. The BNY Mellon index of leading Asian ADRs fell 0.1 percent and the BNY Mellon index of leading Latin American ADRs gained 0.2 percent. Energy companies were among the top gainers after Brent crude rose for a fourth day, hitting a fresh nine-month high and a record in euro terms on Thursday.
US-traded shares of Total S.A. gained 1.6 percent to $56.12 and BP PCL also rose 0.9 percent to $47.27. In an upbeat note for the US economy, new claims for unemployment benefits held steady last week and were at the lowest since the early days of the 2007-2009 recession.