Britain's FTSE 100 index rose to a six-year high by midday on Monday, led by mining stocks on a bullish outlook for copper, talk of a buyback from Anglo American and bid speculation around Sainsbury.
Anglo American surged 2.6 percent after the Financial Times reported the miner was expected to announce this week a further share buy-back plan that would return up to $4 billion to shareholders on the back of the boom in metal prices. JPMorgan lifted its price target for the stock.
Other miners were also buoyed by expectations that copper prices were set to rise as China replenished its stocks next week after the Chinese New Year holidays.
Lonmin climbed 2 percent, Kazakhmys gained 1.9 percent, BHP Billiton added 0.7 percent and Rio Tinto put on 1 percent.
Read more at Reuters South Africa
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