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UK stocks higher, FTSE 100 rises 0.3%

UK stocks higher, FTSE 100 rises 0.3%

LONDON: UK stocks climbed on Monday, with the beginning of the previous week of trade in 2014 seeing increases for mining shares, as well as a more progress in medical-devices maker Smith & Nephew PLC.
The FTSE 100 index UKX, +0.18% rose 0.3% to 6,631.08, and a win Monday would be the index’s eighth in a row.
Top gainers included mining stocks, which have been hit in recent weeks on lower prices for metals and concerns about oversupply in the iron-ore market. Shares of iron-ore producer BHP Billiton PLC BLT, +2.59% BHP, +1.24% BHP, +2.49% picked up 2.6%, copper producer Fresnillo PLC FRES, +2.95% gained 3.1%, and Anglo American PLC AAL, +2.12% rose 2%.
Smith & Nephew PLC SN., +1.63% shares were up 2.1%, extending their 7.7% jump on Christmas Eve, after a Bloomberg report that U.S. surgical-implants maker Stryker Corp. SYK, -0.37% is preparing to make a takeover offer.
Meanwhile, shares of Tesco PLC TSCO, +0.54% were off 0.5% following analysis that the supermarket chain is facing the possibility of having to inject 300 million pounds ($467.4 million) into its employees’ pension plan for the next 10 years, the Guardian reported over the weekend, citing a report from pensions consultant John Ralfe.