Most U.K. stocks rose, with the FTSE 100 (UKX) Index trading near its highest level in more than five years, as commodity producers advanced and Britain's equity markets reopened following a public holiday.
BHP Billiton Ltd. and Rio Tinto Group climbed 1.7 percent and 1.8 percent, respectively, dragging U.K. mining companies higher. Betfair Group Plc rose after the gambling company said full-year sales and earnings will exceed current analyst estimates. G4S Plc plunged 10 percent as the security provider forecast margins will continue to decline this year after dropping in the first quarter.
The FTSE 100 gained 7.9 points, or 0.1 percent, to 6,529.36 at 8:53 a.m. in London. More than three stocks advanced for every two that retreated. The equity benchmark completed an 11- month rally in April, its longest stretch of gains since the index started in 1984. The broader FTSE All-Share Index added 0.2 percent today, while Ireland's ISEQ Index rose 0.5 percent.
The Bank of England will probably leave its stimulus program on hold this week amid signs the economy has found a firmer footing. A Bloomberg News survey of economists shows policy makers will not expand quantitative easing beyond 375 billion pounds ($583 billion) when they meet on May 9.
The number of shares changing hands in FTSE 100-listed companies was 57 percent greater than the average of the past 30 days, according to data compiled by Bloomberg.
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