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U.K. stocks climbed, extending a third weekly gain, after the U.S. government revised up its estimate for job creation in February.
U.S. payrolls rose 192,000 in March after a 197,000 gain in February that was larger than first estimated, the Labor Department reported today in Washington. The median forecast in a Bloomberg survey had projected a 200,000 increase for last month. The unemployment rate remained at 6.7 percent.
EasyJet advanced 2 percent to 1,827 pence, the highest price since the discount carrier’s initial public offering in November 2000. The total number of passengers carried increased to 5.1 million last month, boosting EasyJet’s load factor, a measure of occupancy, to 91.5 percent from 90.5 percent.
Pearson climbed 2.5 percent to 1,033 pence. Jefferies raised its rating on the stock to buy from hold, with analyst David Reynolds citing signs of a pickup in U.S. primary- and secondary-education spending. Pearson’s North American Education Unit contributed more than half of revenue in 2013.
Man Group added 4.7 percent to 106.7 pence as HSBC upgraded the hedge-fund manager to overweight, similar to a buy recommendation, from underweight. The company is cutting costs faster than forecast, has reduced its reliance on high-">Tesco fell 1.5 percent to 287.4 pence. Chief Financial Officer Laurie McIlwee, who joined the grocer in 2000, will remain in the position for now “to ensure a smooth handover to his successor,” the largest British retailer said in a statement today. The Financial Times had earlier reported McIlwee may leave the supermarket chain before it posts its full-year earnings on April 16.
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