By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- The U.K.'s FTSE 100 index broke a
six-day losing streak on Monday, with Vodafone Group PLC boosting
the benchmark after merger news and house builders rising after an
extension to the Help-to-Buy scheme.
The FTSE 100 index advanced 0.6% to close at 6,568.35, following
a weak sentiment last week. The benchmark on Friday closed with the
biggest weekly loss since June last year, while the six days mired
in the red marked the longest losing run since November 2011.
In Monday's trade, heavyweight Vodafone (VOD) helped lift the
FTSE, rising 1.7% after the telecoms firm reached an agreement to
buy Spanish cable operator Ono SA for just over 7 billion euros
($9.7 billion), including debt. The deal follows weeks of
negotiations.
Shares of Glencore Xstrata PLC (GLCNF) rose 3.2% after people
close to the matter said the mining major was close to reaching an
agreement on the multibillion-dollar sale of its Las Bambas
Peruvian copper project to a Chinese consortium.
Other miners were also among major advancers, even as metals
prices were mixed. Anglo American PLC added 2.7%, BHP Billiton PLC
(BHP) gained 1.2%, and Rio Tinto PLC (RIO) put on 1.2%.
Home builders had a positive trading day after U.K. Chancellor
of the Exchequer George Osborne on Sunday said he'd extend the
Help-to-Buy scheme until 2020. The scheme has been a major catalyst
in housing construction, and the chancellor estimated the extension
would help finance the building of 120,000 new homes, according to
reports.
Persimmon PLC climbed 3.7%, while outside the main London
benchmark shares of Taylor Wimpey PLC gained 2.1%, Crest Nicholson
Holdings PLC added 4.3%, and Barratt Developments PLC picked up
3.1%.
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