Mining stocks and Tesco lead FTSE 100 to six-week high
- 7 October 2015
- From the section Business
(Close): London's leading FTSE index hit a six-week high, led by mining companies and supermarket giant Tesco.
The FTSE 100 closed up 0.2% at 6,336.3 points, the sixth consecutive daily gain.
Tesco's first-half profits fell by 55% although the supermarket group said the results were higher than forecasts, and better than its rivals.
The shares dived nearly 3% but then recovered to close up 2.5% at 197p.
Investment bank Morgan Stanley upgraded the sector to "attractive" and raised the ratings of Anglo American, Rio Tinto and BHP Billiton.
Shares in brewer SABMiller rose 0.3% after it rejected an improved £42.15 a share offer from Anheuser-Busch InBev, the world's largest brewer.
On Tuesday, SABMiller reported a rise in sales volumes, thanks to growth in Latin America and Africa.