U.K. Shares Advance for a Second Day as Metal Gains Boost Minersby
U.K. stocks advanced for a second day as a rebound in metals prices boosted commodity producers.
Industrial metals surged as China weighed measures to support markets that have hit multi-year lows, pushing miners to the biggest gains on the U.K. equity benchmark. Glencore Plc rose 4.4 percent, Antofagasta Plc added 2.7 percent and Anglo American Plc gained 3.3 percent.
The FTSE 100 Index climbed 0.4 percent to 6,364.47 at 8:26 a.m. in London. Equities rose the most in a week yesterday as homebuilders advanced after Chancellor of the Exchequer George Osborne announced increased spending on housing and an improved economic outlook. The gauge has risen 7.8 percent since its August low.
Among other stocks moving today, Tesco Plc rose 1.3 percent after agreeing to settle a U.S. class-action lawsuit brought by shareholders against the company related to last year’s accounting scandal.