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2006
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UK Market Update Archive: 
UK Stocks Rise on Rio Tinto Stake Purchase
Feb 01, 7:54 PM EST
British Air profit rose 22% for the nine months ended in December on 1% rise in revenue.
A surprise stake at a 21% premium in Rio Tinto but a team of two aluminum companies lifted the mood investors. Stocks rallied led by asurge in mining companies.Rio Tinto increaesd 13%, BHP soared 10%, Vedanta Resources added 9%, and Antofagasta increased 7%. Xstrata, involved in talks with Rio added 5%. Purchasing Managers Index showed a decline in manufacturing activity in January. British Land fell on downgrade. Biffa and FKI rose on takeover speculations.
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