U.K. Stocks Rally; BHP, Marks & Spencer, Cable & Wireless Gain

U.K. stocks rose for the first time in four days. BHP Billiton Ltd. paced a rally in mining companies as copper advanced and gold climbed to a record.

Marks & Spencer Plc increased after Britain's largest clothing retailer posted higher earnings. Tullow Oil Plc gained after Mol Nyrt. agreed to buy a stake in an oil field. Cable & Wireless Plc rose after Merrill Lynch & Co. upgraded the shares to ``buy.''

The FTSE 100 Index gained 27.1, or 0.4 percent, to 6,488.5 at 12:42 p.m. in London. The FTSE All-Share Index rose 0.4 percent to 3,338.6. Ireland's ISEQ Index slipped 0.3 percent to 7,436.33.

BHP, the world's largest mining company, added 3.4 percent to 1,758 pence. Rio Tinto Group, the third-biggest, gained 3 percent to 4,322 pence. Xstrata Plc, the world's fourth-largest copper producer, advanced 2.5 percent to 3,250 pence.

Copper rose for the first day this month in London on speculation increased purchases will start reversing five consecutive weeks of expanding inventories. Tin advanced to its highest since at least 1989.

Gold traded above $800 for a third consecutive trading session, reaching a 27-year high.

Marks & Spencer jumped 3.3 percent to 653 pence. First-half profit rose 40 percent to 393.2 million pounds ($820 million) on women's fashions, new food stores and a pension credit.

Chief Executive Officer Stuart Rose also announced plans to buy back 10 percent of the stock and accelerate store openings in Asia after quarterly sales rose at the slowest pace in two years.
investpennystocks.com