Late Day Rally Pushes FTSE 100 Higher as Commodity Shares Gain

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A late day rally in commodity shares spurred U.K. stocks to reverse their decline.

Rio Tinto Group, Fresnillo Plc and BHP Billiton Plc added at least 1.5 percent. Shire Plc rose after Cowen & Co. said the company may be attractive to Pfizer Inc.

Prudential Plc, the U.K.’s largest insurer by market value, fell 1.4 percent, after appointing Penny James as chief risk officer, replacing John Foley.

The FTSE 100 Index added 0.3 percent to 6,636.22 at the close in London, after falling as much as 1 percent.

China’s stocks surged the most in a month amid speculation that the government will act to prop up growth following a wider-than-expected drop in exports. Shares also benefited from expectations that mergers of state-owned enterprises may be accelerated to bolster economic growth.

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