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LONDON MARKETS: FTSE 100 Jumps As Miners, Oil Firms Rise

By Sara Sjolin, MarketWatch LONDON (MarketWatch) -- U.K. stocks followed a risk-on trend in European markets on Monday, after weekend polls in Greece put the conservatives in the lead ahead of next month's election. The FTSE 100 index jumped 0.9% to 5,398.28 points, and was set to extend gains into a third-straight day. Miners provided the most support to the index, as metals prices were on the rise. Heavyweights Rio Tinto PLC (RIO) and BHP Billiton PLC (BHP)rose 3.5% and 2.3% respectively, while Antofagasta PLC took on 3.6%. Oil firms also provided support in London, as oil prices added more than 1%. BG Group PLC ticked 0.6% higher and Tullow Oil PLC advanced 3.2%. Sentiment in the U.K. was inspired by gains across Europe, where stocks moved higher after polls in Greece put the pro-bailout New Democracy party in the lead ahead of parliamentary elections in June, offering signs of progress toward stabilization in the debt-laden country. Banks moved up with Barclays PLC gaining 2%, Lloyds Banking Group PLC 4.4% higher and Royal Bank of Scotland Group PLC moving up 3.3%. Drinks business Diageo PLC ticked 0.5% higher after reaching an agreement to buy cachaca brand Ypioca from Ypioca Agroindustrial Limitada for about 300 million pounds ($471 million). Also providing support in London, recruitment firm Capita PLC added 3.2% after UBS lifted the stock to buy from neutral, following increased merger and acquisition activity. "Analysis of the largest recent acquisitions has given us comfort regarding the quality of the businesses acquired, the financial dynamics and, most importantly, their clear links to attractive and growing markets," the analysts said in a note. Outside the main index, Inmarsat PLC rose 3.3% after Jefferies raised the telecom firm to buy from hold.

Stock News for Companhia Vale (RIO)
DateTimeHeadline
05/24/201312:27:13LONDON MARKETS: U.K. Stocks Slide As Miners, Banks Decline
05/24/201311:08:14LONDON MARKETS: U.K. Stocks Slides As Miners, Banks Decline
05/23/201321:30:09Rio Tinto Cuts Jobs at Utah Copper Mine
05/23/201321:15:04Rio Tinto Begins Cutting Jobs at Utah Copper Mine After Slide
05/23/201314:31:36Copper Hits One-Week Low as Chinese Manufacturing Disappoints
05/23/201312:30:10EUROPE MARKETS: Europe Stocks Slide After China Data, Fed Comments
05/23/201312:28:36LONDON MARKETS: U.K. Stocks Slide As Miners Drop On China Data
05/23/201310:31:51UK, France Agree to Sign up to Resources Transparency Initiative
05/23/201310:01:11Copper Slumps on Weak Chinese Manufacturing, Fed Worries
05/22/201304:58:08ASIA MARKETS: Japan Stocks Rally After Central-bank Meet
05/22/201303:31:01Iluka Resources Considers Spinoff of Iron-Ore Royalty
05/21/201312:41:59LONDON MARKETS: U.K. Stocks Extend Gains To 13-year High
05/21/201310:53:12EUROPE MARKETS: Europe Stocks Pause After Rally; Carnival Sinks
05/21/201307:28:10LONDON MARKETS: U.K. Stocks Extend Gains To 12-year High
05/21/201305:40:49LONDON MARKETS: U.K. Stocks Extend Gains To 12-month High
05/20/201309:13:48EUROPE MARKETS: Europe Stocks Pause After Rally; Miners Slump
05/20/201308:19:32EUROPE MARKETS: Europe Stocks Slip As Miners Slump
05/17/201312:41:22LONDON MARKETS: Banks Lift U.K. Stocks To 51/2-year High
05/17/201302:32:32ASIA MARKETS: Asia Stocks Trade Mostly Higher As Japan Swings...
05/16/201322:59:07ASIA MARKETS: Japan Stocks Slip, But Australia, China Rise

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