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UK Market Update Archive: 
UK Stocks Climb Led by Banks
Jul 09, 3:38 PM EDT
London market averages rallied despite a report that house prices fell in June as commodity stocks and homebuilders rose on higher metal prices.
Banks drove U.K. stocks higher after JP Morgan Chase said losses in the credit market are expected to ease. Bradford & Bingley climbed 27% on speculation that it is a takeover target. London Stock Exchange Group climbed after reporting sales above estimates. Barclays advanced 5.1% to 293.25 pence, while Royal Bank of Scotland increased 4%.
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