LONDON: Surging prices for gold and other metals and a $2.2 billion buyout offer for Hastings Group saw London's mid-cap index post its best session in seven weeks on Wednesday, with some upbeat earnings and economic data also aiding sentiment.
A 17.7% surge for motor insurer Hastings drove the FTSE 250 up 1.9%, after it agreed to be bought by Finland's Sampo and South Africa's Rand Merchant Investment (RMI).
Meanwhile, record high gold prices saw miners of the yellow metal rocket: Centamin Plc and Hochschild Mining jumped 9.6% and 14.4%, respectively.
London's metals index soared 5% to an over six-month high as mining giants BHP, Rio Tinto, Glencore rallied on rising copper and iron ore prices.
The blue-chip FTSE 100 gained 1.1% with a five-month high for crude prices lifting oil majors BP and Royal Dutch Shell.
Among earnings-driven moves, soft drinks bottler Coca-Cola HBC rose 8.1% as its business recovered from April lows, while bookmaker William Hill gained 8.9% on a first-half profit beat.
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