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, Reuters reported.

The blue-chip FTSE 100 (.FTSE) was up 0.4% by 0728 GMT, while the domestically focussed midcap index (.FTMC) 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. read more The wider mining index (.FTNMX551020) was up 1.2%.

Ted Baker (TED.L) surged 16.6% after Juicy Couture and Forever 21 owner Authentic Brands (AUTH.N) agreed to buy the company in a deal worth roughly 211 million pounds ($254.26 million).

Boosting midcaps, Darktrace Plc (DARK.L) 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.