By Sara Sjolin, MarketWatch
LONDON (MarketWatch) ? Resource firms and banks boosted U.K. stocks on Monday, as the market tracked solid gains across Europe after Spain over the weekend said it would seek help for its troubled banking sector.
The FTSE 100 /quotes/zigman/3173262 UK:UKX +1.34% ?added 1.5% to 5,518.41.
Backlash over Spain bailout call
Spain's Indignado movement and their supporters protest over Spain's decision to ask for a bailout for its banks. Video Courtesy of Reuters.
Stocks in the U.K. and the rest of Europe cheered Spain?s Saturday announcement that the country asked the European Union for up to 100 billion euros ($126 billion) of aid for its ailing banks.
The request made Spain the fourth euro-zone country to require international assistance.
The loans will specifically be aimed at the struggling banking sector and not the wider economy, Finance Minister Luis de Guindos said. Spain asks for EU financial assistance
Among U.K. stocks, miners and oil firms did the heavy lifting and moved higher as commodity prices were on the rise.
Miners Vedanta Resources PLC /quotes/zigman/336962 UK:VED +4.44% ?jumped 5.9%, Kazakhmys PLC /quotes/zigman/391399 UK:KAZ +3.12% ?took on 4.2%, while Rio Tinto PLC /quotes/zigman/155899 UK:RIO +2.68% ? /quotes/zigman/182541/quotes/nls/rio RIO -4.12% ?gained 3.4%.
Oil group BP PLC /quotes/zigman/210014 UK:BP +2.25% ? /quotes/zigman/247026/quotes/nls/bp BP -0.99% ?added 1.7%, BG Group PLC /quotes/zigman/249967 UK:BG +1.54% ?rose 2% and Royal Dutch Shell PLC /quotes/zigman/359915 UK:RDSA +1.38% ? /quotes/zigman/359955 UK:RDSB +0.94% ? /quotes/zigman/379078/quotes/nls/rds.a RDS.A -0.16% ? /quotes/zigman/379012/quotes/nls/rds.b RDS.B -0.12% ?ticked 1.2% higher.
Banks were also higher. Lloyds Banking Group PLC /quotes/zigman/126322 UK:LLOY +6.55% ? /quotes/zigman/255656/quotes/nls/lyg LYG -0.57% ?surged 6.5%, Royal Bank of Scotland PLC /quotes/zigman/530544/quotes/nls/rbs RBS -0.14% ? rose 4.8% and Barclays PLC /quotes/zigman/301787 UK:BARC +4.23% ? /quotes/zigman/152323/quotes/nls/bcs BCS -0.67% ?took on 4.7%.
/quotes/zigman/3173262
UK : FTSE Indices
Volume: 0.00
June 11, 2012 10:00a
/quotes/zigman/336962 UK : U.K.: London
Volume: 497,450
June 11, 2012 10:00a
Rev. per Employee?281,656
/quotes/zigman/391399 UK : U.K.: London
Volume: 261,883
June 11, 2012 10:00a
Rev. per Employee?37,513
/quotes/zigman/155899 UK : U.K.: London
Volume: 1.32M
June 11, 2012 10:00a
Market Cap?40.48 billion
Rev. per Employee?534,026
/quotes/zigman/182541/quotes/nls/rio US : U.S.: NYSE
Volume: 4.31M
June 8, 2012 4:05p
Rev. per Employee$858,542
/quotes/zigman/210014 UK : U.K.: London
Volume: 6.32M
June 11, 2012 10:00a
Market Cap?77.81 billion
/quotes/zigman/247026/quotes/nls/bp US : U.S.: NYSE
Volume: 4.65M
June 8, 2012 4:00p
Market Cap$119.96 billion
/quotes/zigman/249967 UK : U.K.: London
Volume: 866,802
June 11, 2012 10:00a
Market Cap?43.02 billion
/quotes/zigman/359915 UK : U.K.: London
Volume: 402,537
June 11, 2012 10:00a
Market Cap?131.24 billion
/quotes/zigman/359955 UK : U.K.: London
Volume: 795,733
June 11, 2012 10:00a
Market Cap?131.24 billion
/quotes/zigman/379078/quotes/nls/rds.a US : U.S.: NYSE
Volume: 1.51M
June 8, 2012 4:07p
Market Cap$202.33 billion
/quotes/zigman/379012/quotes/nls/rds.b US : U.S.: NYSE
Volume: 596,508
June 8, 2012 4:07p
Market Cap$202.33 billion
/quotes/zigman/126322 UK : U.K.: London
Volume: 136.76M
June 11, 2012 10:00a
Market Cap?19.70 billion
Rev. per Employee?354,191
/quotes/zigman/255656/quotes/nls/lyg US : U.S.: NYSE
Volume: 1.44M
June 8, 2012 4:06p
Rev. per Employee$552,300
/quotes/zigman/530544/quotes/nls/rbs US : U.S.: NYSE
Volume: 399,046
June 8, 2012 4:10p
Market Cap$195.82 billion
Rev. per Employee$423,098
/quotes/zigman/301787 UK : U.K.: London
Volume: 15.30M
June 11, 2012 10:00a
Market Cap?23.29 billion
Rev. per Employee?305,514
/quotes/zigman/152323/quotes/nls/bcs US : U.S.: NYSE
Volume: 3.03M
June 8, 2012 4:05p
Rev. per Employee$487,429
Sara Sjolin is a MarketWatch reporter, based in London.
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