- Strong trading in Asia and a bounce back among miners helped the FTSE 100 climb 0.8% to 7,680 around midday.

Miner BHP Billiton (BLT) agreed to fund $211m to support the Renova Foundation, which was created to help victims of the Samarco dam disaster in Brazil via compensation programs. Shares in the company rose 1.7% to £17.16.

Peer Antofagasta (ANTO) gained 1.5% to 995.6p and Glencore (GLEN) advanced 1.1% to 362.6p

Brent crude oil advanced 1.2% to $78.83 per barrel.


Chemicals firm Elementis (ELM) fell 8.6% to 258.9p on a proposed $600m acquisition of industrial talc additives company Mondo Minerals and $280m rights issue.

Outsourcer Serco (SRP) slid 4.4% to 96.4p as the market overlooked a 20% expected rise in underlying trading profit and focused on lower sales in its first half.

Defence company BAE Systems (BA.) announced it will deliver its nine ship Future Frigate programme to the Royal Australian Navy. BAE said it will design, build and support the ships in a contract worth A$35bn, helping the stock rise 2.8% to 649.8p.


Low-cost African airline Fastjet (FJET) plans to raise at least $10m in a shares placing at a 146% premium to Thursday's closing price in a bid to keep the company running. Shares in the company soared 141.5% to 7.8p.

Action Hotels (AHCG) rallied 32% to 21.1p on a takeover offer at a 50% premium to Thursday's closing price from Action Group.

Elsewhere, Diversified Gas & Oil (DGOC) finalised a deal to acquire entities with certain gas and oil assets of EQT, which will be funded partially through a shares placing to raise $250m. Shares in the company jumped 29.1% to 124p as they emerged from suspension.

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