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London - UK stocks advanced, snapping a two-day decline, as mining companies rallied on higher metals prices.
Antofagasta, BHP Billiton and Anglo American led the advance, with gains of at least 2.3% as declines in the dollar boosted commodity prices. Among stocks moving on corporate news, Premier Oil added 2.9% after raising its full-year output guidance. Kingfisher fell 1.2% after reporting mixed second-quarter financial results.
The FTSE 100 Index of large companies added 0.2% to 6 873.75 at 09:25. The FTSE 250 Index of mid-cap firms rose 0.3%, while Ireland’s ISEQ Index gained 0.5%.
European stocks climbed for the first time in five days, rebounding from a two-week low, on speculation that central banks will remain accommodative after Federal Reserve meeting minutes quelled speculation that borrowing costs could rise as soon as next month.
The FTSE 100, which is heavily weighted with export-dependent companies, has benefited from a weaker sterling this year, taking its annual gain to 10% for one of the best performances among developed markets.
