UK stocks climb for 2nd day in early trade, FTSE 100 advances 0.5pc

LONDON: British shares climbed for a second day, pushed up by a gain in Land Securities Group Plc and Reed Elsevier Plc.

Land Securities added 2.6 percent after the U.K.’s largest real estate investment trust reported an increase in full-year profit as an acquisition boosted its rental income. Peer British Land Co. climbed 1.4 percent. Reed Elsevier gained 2.3 percent after Goldman Sachs Group Inc. recommended buying the stock. Vodafone Group Plc fell 1.8 percent as its annual profit forecast missed analysts’ estimates.

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The FTSE 100 Index advanced 0.5 percent to 7,001.11 at 8:19 a.m. in London after closing 1.9 percent away from a record reached last month. The broader FTSE All-Share Index also climbed 0.5 percent, and Ireland’s ISEQ Index rose 1.2 percent.

BHP Billiton Ltd., Fresnillo Plc and Anglo American Plc fell more than 1 percent as commodities slid for a third day.