U.K. Stocks Rise, Led by BHP Billiton, Anglo American, Xstrata

U.K. stocks advanced for a third day. BHP Billiton Ltd. and Anglo American Plc, the world's largest mining companies, paced gains as metal prices climbed and after Xstrata Plc agreed to buy Australia's Jubilee Mines NL.

The FTSE 100 Index rose 47.5, or 0.7 percent, to 6,708.8 at 12:40 p.m. in London. The FTSE All-Share Index added 0.7 percent to 3,445.02. Ireland's ISEQ Index gained 0.8 percent to 7,925.01.

Copper for delivery in three months climbed as much as 1.3 percent to $7,969 a ton as the dollar fell to a record. Gold rose to the highest since January 1980.

BHP increased 2.3 percent to 1,885 pence. JPMorgan Chase & Co raised its share-price estimate for the world's biggest mining company by 22 percent to 2,071 pence. Anglo American Plc, the second-largest, advanced 3.1 percent to 3,347 pence. JPMorgan raised its price estimate by 7 percent to 3,284 pence.

The brokerage also lifted its estimate for Antofagasta Plc by 17 percent to 787 pence. The owner of copper mines in Chile added 2.2 percent to 868 pence.

pennystock-insider.com