FTSE 100 Inches Higher Led By Telecom Stocks

U.K. stocks advanced on Monday, with optimism about a faster economic recovery and dealmaking activity boosting sentiment.

The benchmark FTSE 100 rose 25 points, or 0.4 percent, to 7,248 after declining half a percent on Friday.

Vodafone climbed 2 percent and BT Group jumped more than 3 percent after U.S. fund KKR presented a non-binding proposal to buy Italy’s Telecom Italia.

Miner BHP gained about 1 percent after the merger of its petroleum arm with Woodside.

Diploma Plc rallied 3.7 percent. The supplier of specialized technical products and services reaffirmed guidance after reporting an improved profit for the year ended Sept. 30.

Marks and Spencer advanced 2.7 percent after reports that U.S. investment firm Apollo Global Management is mulling a buyout of the U.K. retailer.