By Alexis Xydias
Oct. 26 (Bloomberg) -- U.K. stocks advanced for a second day, as mining shares followed metals price higher. Rio Tinto Group and Lonmin Plc increased.
The benchmark FTSE 100 Index added 10.22, or 0.2 percent, to 5,252.79 as of 8:47 a.m. in London. The FTSE All-Share Index rose 0.2 percent and Ireland’s ISEQ Index increased 0.4 percent.
The FTSE 100 has surged 50 percent since this year’s low on March 3 amid speculation the worst of a global slowdown is past.
Rio Tinto, the world’s third-largest mining company, gained 0.8 percent to 3,024.5 pence. Lonmin, the third-biggest platinum producer, added 1.5 percent to 1,737 pence.
Copper for three-month delivery gained 1 percent to a 13- month high of $6,712 a ton in London. Lead, nickel and tin also rose on the London Metals Exchange.
British Airways Plc dropped 3.2 percent to 203.2 pence. Europe’s third-largest carrier was cut to “sell” from “hold” at Deutsche Bank AG, which said a merger with Iberia Lineas Aereas de Espana SA and anti-trust immunity with American Airlines “are at risk.”
To contact the reporters on this story: Alexis Xydias in London at axydias@bloomberg.net.
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