Miners Push U.K. Stocks Higher After FTSE 100 Erased 2016 Lossesby
Premier Foods tumbles after McCormick abandons talks
Tesco slides after saying annual profit will be restrained
Gains in commodity producers boosted U.K. stocks for a second day, putting the FTSE 100 Index on track for an annual advance.
Anglo American Plc and Rio Tinto Group climbed more than 5.4 percent as metal prices rose. Premier Foods Plc tumbled 27 percent after McCormick & Co. abandoned takeover talks with the company, saying the price was too high. Tesco Plc slid 4.6 percent after saying profit this year will be held back by the cost of improving its product range.
The FTSE 100 rose 1.3 percent at 8:55 a.m. in London. The benchmark has wiped out 2016 losses of as much as 11 percent amid a rebound led by commodity and oil shares since a February low.
The broader FTSE All-Share Index and Ireland’s ISEQ Index also advanced today.