StockMarketWire.com - UK stocks opened higher on Tuesday after mining companies were boosted by rising commodity prices buoyed by global recovery hopes.

At 0818, the benchmark FTSE 100 index was up 39.78 points, or 0.6,% at 6,962.95, having lost ground on Monday due to a selloff in US tech stocks.

Miners were leading the charge, with BHP, Glencore and Rio Tinto up 1.9%, 1.9% and 1.7%, respectively.

Television broadcaster ITV fell 0.5% to 123.65p even as it reported a 2% uptick in first-quarter revenue amid an ongoing rebound in the advertising market.

ITV said total advertising revenue in the first half was forecast to be up around 26% year-on-year.

Online fashion retailer Boohoo shed 0.9% to 323.67p despite reporting a 35% rise in annual pre-tax profit, underpinned by a 41% jump in sales.

Boohoo forecast lower, but still respectable, revenue growth in the current year of 25%.

Insurance company Direct Line added 0.5% to 288.3p, even as it reported a 4.7% fall in first-quarter gross written premium revenue.

Looking ahead, Direct Line touted 'encouraging' early indications that motor market premiums were stabilising.

Rival insurer Hiscox firmed 1.8% to 825.86p, having reported a 6.3% rise in first-quarter premium revenue.

Banking group Virgin Money UK slumped 8.0% to 184.7p, even as it swung to a first-half profit after a drop in bad debt charges offset a weaker operating income.

Virgin Money forecast its net interest margin -- a key measure of profitability -- to edge up to 1.6% for the full year, up from 1.56% in the first half but flat on 1.6% on the second quarter.

Refractory products supplier RHI Magnesita gained 1.3% to £45.24 on announcing that it was performing in line with market expectations, with a recovery in sales offset by supply-chain disruptions.

RHI Magnesita said its expectations for 2021 adjusted earnings before interest, tax, depreciation and amortisation remained in line with market forecasts, based on company-complied consensus of €310 million.

Property investor UK Commercial Property REIT firmed 1.7% to 78.79p as it hiked its first-quarter dividend after the value of its portfolio strengthened.

UK Commercial Property declared a dividend for the three months through March of 0.644p per share, up 40% year-on-year.

Asian stock picker Schroder Oriental Income Fund added 0.3% to 288.27p, having reported a positive first-half performance as markets continued to bounce back on Covid-19 recovery hopes.

Schroder Oriental Income's net asset value total return per share for the six months through March rose 21%, comparing to a 17% rise in its reference benchmark. It held its dividend at 3.8p per share.

Data company WANdisco was flat at 450p as it posted a deeper annual loss but stuck to its guidance for a rise in sales this year to $35 million.

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