By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.K. stocks followed a risk-on trend in European markets on Monday, after weekend polls in Greece put the conservatives in the lead ahead of next month's election.
The FTSE 100 index jumped 0.7% to 5,388.45.
Miners provided the most support to the index, as metals prices were on the rise.
Heavyweights Rio Tinto PLC (RIO) and BHP Billiton PLC (BHP) rose 2.3% and 1.6% respectively, while Antofagasta PLC took on 2.5%.
Oil firms also supported in London, tracking oil prices higher. BG Group PLC ticked 0.7% higher, Royal Dutch Shell PLC (RDSA) (RDSB) added 0.6% and Tullow Oil PLC advanced 2.3%
Sentiment in the U.K. was inspired by gains In Europe, where stocks moved higher after polls in Greece put the pro-bailout New Democracy party in the lead ahead of parliamentary elections in June, offering signs of progress toward stabilization in the debt-laden country.
Some banks moved up with Barclays PLC up 1.4% and Lloyds Banking Group PLC 1.7% higher.
Drinks business Diageo PLC ticked 1% higher after reaching an agreement to buy cachaca brand Ypioca from Ypioca Agroindustrial Limitada for about 300 million pounds ($471 million).
Outside the main index, Inmarsat PLC rose 3.6% after Jefferies raised the telecom firm to buy from hold.
(END) Dow Jones Newswires
May 28, 2012 04:47 ET (08:47 GMT)
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