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* FTSE 100 up 0.1 percent
* Mid-caps hit record high
* Mining sector underpins gains
By Kit Rees
LONDON, Feb 13 UK shares rose on Monday,
underpinned by a rally in mining stocks on the back of firmer
metals prices, building on the previous session's three-week
high and on course to post its fifth straight day of gains.
The blue-chip FTSE 100 index was up 0.1 percent at
7,262.78 points by 0955 GMT.
Mining stocks gained 1.6 percent after the
price of copper touched a 20-month high on the back of supply
worries after shipments were shut off from the world's two
biggest copper mines.
Shares in Glencore, Anglo American, BHP
Billiton and Antofagasta climbed between 1.7
percent and 2.2 percent. BHP Billiton was also in focus after an
attack on its Escondida mine in Chile at the weekend.
A number of price-target upgrades also helped the sector.
Glencore was raised to "equal weight" from "underweight" at
Morgan Stanley, while RBC Capital Markets raised Rio Tinto's
"Post 2016 Glencore's valuation multiples, financial risk,
downside to PT and risk reward skew are similar to its London
peers," Morgan Stanley analysts said in a note.
"Reinvestment or return of excess cash is the key value
An upgrade from Peel Hunt to "add" from "hold" also helped
Hargreaves Lansdown rise 1.2 percent, with analysts
citing a stronger-than-expected first-half performance in its
results last week.
"As much as the financial returns, in our view the statement
last week confirmed the power of Hargreaves' business model,"
Peel Hunt analysts said in a note, singling out the development
of the company's HL Savings unit.
Mid-caps also rose, with the FTSE 250 index hitting
a new record high, up 0.1 percent.
Shares in energy firm Evraz were the biggest
gainers, up 6 percent, while earnings underpinned a rally in
trading software provider Fidessa Group's shares.
They rose 4.3 percent after Fidessa said that its
international revenue spread provided stability amid uncertainty
following the Brexit vote and the U.S. election.
"Fidessa has delivered a solid set of results in a year
where its customers had to grapple with heightened geopolitical
uncertainty," Jefferies' equity analyst, Damindu Jayaweera, said
in a note, who expects the business climate to improve in 2017.
(Reporting by Kit Rees)