By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Shares of SABMiller PLC led U.K. stocks
higher Thursday after the brewer posted a solid rise in half-year
earnings, while resource firms rose on the back of encouraging
Chinese factory data.
The FTSE 100 index rose 0.7% to close at 5,791.03, closing in
positive territory for a fourth straight day.
Shares of SABMiller PLC jumped 6.4% after the brewer posted a
15% rise in profit to $1.59 billion for the six months to Sept. 30
and said revenue improved by 11%. The firm said that robust demand
in emerging economies provided support during the period but that
it faces challenges in the U.S. and Australia.
Shares of Glencore International PLC rose 2%, after European
Union regulators approved the multibillion-dollar merger between
the commodity titan and miner Xstrata PLC . Glencore had to cancel
its off-take contract with Nyrstar, the world's largest zinc metal
producer, to clear the deal. Shares of Xstrata gained 1.7%.
Among other notable gainers in London, shares of Reckitt
Benckiser Group PLC added 0.4%, after the consumer-goods firm
signed a merger agreement with Schiff Nutrition International Inc.
(SHF) and launched a $1.4 billion tender offer for Schiff.
Resource shares also moved higher, as data from China showed
manufacturing started to improve for the first time in 13 months.
HSBC's preliminary manufacturing purchasing managers index rose to
50.4 in November, above the 50 mark, which separates expansion from
contraction.
Shares of miner Eurasian Natural Resources Corp. climbed 1.3%,
while Kazakhmys PLC and Anglo American PLC both picked up 1.4%.
Most metals futures traded higher.
Heavyweight oil firms rose, with BG Group PLC up 1.2% and shares
of Royal Dutch Shell PLC (RDSB) rising 0.2%.
Banks were also higher in London. Shares of Royal Bank of
Scotland Group PLC (RBS) gained 1.4%, Barclays PLC shares picked up
1.3% and sector heavyweight HSBC Holdings PLC (HBC) rose 0.7%.
Outside the main index in London, shares of Daily Mail &
General Trust PLC surged 11%, after the media firm delivered a 7%
increase in full-year operating profit and said it remains well
positioned for 2013 and beyond.
Another notable movers in Ireland, Ryanair Holdings PLC put on
2.4%. The low-cost airline said it will cut 10 routes and more than
280 weekly flights to its Budapest regional base due to increased
airport charges. .
Subscribe to WSJ: http://online.wsj.com?mod=djnwires