U.K. Stocks Advance, Led by HSBC; BHP, Mining Companies Gain

U.K. stocks gained. HSBC Holdings Plc paced an advance by banking companies. BHP Billiton and Anglo American Plc, the world’s largest mining companies, increased as metal prices rose.

Imperial Chemicals Industries Plc, the U.K.’s largest specialty chemical maker, also climbed after crude oil dropped.

The benchmark FTSE 100 Index increased 8.2, or 0.1 percent, to 6253.40 at 8:11 a.m. in London. The FTSE All-Share Index gained 4.26, or 0.1 percent, to 3233.75. Ireland’s ISEQ Index increased 0.3 percent to 9394.48.

HSBC, Europe’s biggest bank by market value, advanced 4.5 pence, or 0.5 percent, to 928.5. Standard Chartered Plc, a U.K. bank that makes most of its profit in Asia, added 8 pence, or 0.5 percent, to 1,500.

BHP Billiton and Anglo American gained 0.6 percent to 934 pence and 0.2 percent to 2,483 pence, respectively. Copper, aluminum and zinc increased on the London Metal Exchange. Gold rose for a third day amid concern the dollar could drop further against the yen and the euro, boosting the bullion’s appeal.

ICI climbed 8.25 pence, or 1.9 percent, to 453. Crude oil fell to a one-month low yesterday as mild weather reduced U.S. heating-fuel consumption. Oil makes up 60 percent of the costs for chemical companies, according to Credit Suisse.

Aer Lingus Group Plc, the Irish airline that Ryanair Holdings Plc tried to buy, increased 0.7 percent to 2.75 euros after it said passenger numbers increased 2.4 percent in November as more people flew on routes within Europe.

To contact the reporter on this story: Sarah Thompson in London at sthompson17@bloomberg.net .


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