By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.K. stocks kicked off the week in an
upbeat fashion on Monday, with Tesco PLC among major gainers after
a broker upgrade and banks benefitting from a positive trading
sentiment.
The FTSE 100 index rose 0.5% to 6,292.64, adding to a 0.6% gain
from Friday.
Tesco (TESO) picked up 1.3% after Exane BNP Paribas lifted the
food retailer to neutral from underperform, citing better sales
performances recently.
Shares of power-systems company Rolls-Royce Holdings PLC inched
0.4% higher. The firm said it has been awarded a $97.3 million
contract from the U.S. Air Force to support its C-130J transport
fleet in 2013.
British Land Co. gained 0.5% after the real estate investment
trust said it bought a portfolio of properties in London from
Wereldhave for 183.8 million pounds ($289.6 million).
Risk-sensitive sectors, such as banks and resource firms, were
also on the rise, benefitting from investors' willingness to take
on more risk.
Shares of Barclays PLC (BCS) rose 1.2%, Royal Bank of Scotland
Group PLC (RBS) added 0.8% and Lloyds Banking Group PLC (LYG) put
on 0.4%.
Among energy firms, shares of BG Group PLC added 0.6% and Royal
Dutch Shell PLC (RDSB) gained 0.5%. Oil prices were higher.
Heavyweight miner Rio Tinto PLC (RIO) increased 0.4% and peer
firm Antofagasta PLC rose 1%. Metals prices were mixed.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires