By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.K. stocks gained Monday, with mining
shares among those keeping the FTSE 100 around its best level in
more than 15 years.
The FTSE 100 rose 0.3% to 6,968.60. On Friday
(http://www.marketwatch.com/story/iag-climbs-in-london-ftse-100-heads-toward-monthly-gain-2015-02-27),
the index marked a 3.2% advance in February, during which it also
hit its strongest closing level since December 1999.
The mining group on Monday was up more than 1%, moving up after
HSBC data showed activity in China's manufacturing sector was
stronger than initially indicated. China is a major buyer of
metals. Shares of miners Glencore PLC and Anglo American PLC each
gained 1.9%, and Fresnillo PLC picked up 1.6%.
HSBC's China Manufacturing Purchasing Managers' Index rose above
the level of expansion to a final reading of 50.7, up from 49.7 in
January. Also over the weekend, China's central bank cut interest
rates
(http://www.marketwatch.com/story/china-rate-cut-renews-economic-concerns-2015-03-01-164852040),
a move aimed at combating a slowdown in the Chinese economy.
Data on U.K. manufacturing activity is due at 9:30 a.m. London
time, or 4:30 a.m. Eastern Time. The pound (GBPUSD) was buying
$1.5398, compared with $1.5436 late Friday in New York.
Meanwhile, Intertek Group PLC shares were the best performing on
the FTSE 100, rising 3.6%. The testing-services company raised its
full-year dividend
(http://www.marketwatch.com/story/intertek-yearly-profit-falls-raises-dividend-2015-03-02)
by 6.7% to 49.1 pence a share, although its full-year revenue and
profit fell against a backdrop of tough conditions in the oil, gas
and minerals sectors.
Decliners were led by a 1.5% fall in oil producer Tullow Oil PLC
and a 1.1% pullback in shares of drug maker Shire PLC .
(http://www.marketwatch.com/story/iag-climbs-in-london-ftse-100-heads-toward-monthly-gain-2015-02-27)
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