In London on Thursday, the FTSE 100 added 1.16 percent to 6,227.7, largely on the strength of gains in the mining sector. The FTSE 250 was also higher, gaining 1.6 percent to 11,363.8.
Among miners, Xstrata (LSE: XTA) added 0.4 percent to £24.69 after rumors surfaced that it was thinking about bidding on Canadian nickel miner Lionore Mining (LSE, Toronto Stock Exchange: LIM), which gained 2.7 percent to 750p. Lionore is up nearly 133 percent since October of last year.
Elsewhere in the sector, Vedanta Resources (LSE: VED) and Kazakhmys (LSE: KAZ) were each 2.9 percent higher, to £12.49 and £11.24 respectively. Kazakhmys just purchased Dostan-Temir as its first move into the oil sector. Antofagasta (LSE: ANTO) gained 3.1 percent to 476p on rumors that a special dividend of 40 cents US per share might be announced next Tuesday when it reveals its full-year results.
In the banking sector, Standard Chartered (LSE: STAN; SEHK: 2888) added 2.2 percent to £14.30 on broker comments that low share prices meant a good opportunity to buy as well as the news that Singapore’s state investment company, Temasek, had increased its holding in the bank to 12 percent.
Music retailer HMV (LSE: HMV) was up 3.9 percent to 146p ahead of a strategy presentation scheduled for next Tuesday. Pali International initiated coverage with a “buy” recommendation.
First Choice Holidays (LSE: FCD) added 1.2 percent to 268¾p on rumors that private equity might be interested in making a bid.