FTSE 100 hits fresh 2-month high as miners jump

UK's blue-chip index hit fresh two-month highs on Tuesday as bumper results from BHP Group lifted mining stocks, while fashion chain Ted Baker soared on a 211-million-pound buyout deal.

UK's blue-chip index hit fresh two-month highs on Tuesday as bumper results from BHP Group lifted mining stocks, while fashion chain Ted Baker soared on a 211-million-pound buyout deal. The blue-chip FTSE 100 was up 0.4% by 0728 GMT, while the domestically focussed midcap index climbed 0.1%.

BHP Group Ltd jumped 3.6% after the world's largest miner reported highest profits since 2011 on the back of gains in prices of coal and other commodities. The wider mining index was up 1.2%. Ted Baker surged 16.6% after Juicy Couture and Forever 21 owner Authentic Brands agreed to buy the company in a deal worth roughly 211 million pounds ($254.26 million).

Boosting midcaps, Darktrace Plc jumped 20.5% after the cybersecurity firm said that it was in the early stages of discussions with tech investment firm Thoma Bravo regarding a possible cash offer. Meanwhile, data showed Britain's super-hot labour market showed more signs of cooling as companies turned more cautious about hiring and workers suffered a record fall in their basic wages when adjusted for soaring inflation.