* FTSE 100 up 0.8 percent, shrugs off weak retail data
* Miners push higher as global recovery hopes intact
* Food, travel firms lifted by Europe, U.S. results
By Simon Falush
LONDON, Oct 21 (Reuters) - Stronger miners and banks lifted
Britain's top shares to a six month high around midday on
Thursday, with confidence on equities bolstered by strong U.S.
and European earnings.
By 1142 GMT, the FTSE 100 <> was 45.43 points, or 0.8
percent, higher at 5,774.36, after rising 0.4 percent on
Wednesday. It peaked at 5776.10, its highest level since late
April and is up over 10 percent since the start of September.
Miners delivered the biggest lift to the index, supported as
metal prices held near recent highs, and as strong corporate
earnings and solid data from China supported confidence the
global economic recovery was sustainable.
Anglo American <AAL.L> led the way, up 2.5 percent after
releasing third-quarter earnings while Rio Tinto <RIO.L> added
1.9 percent.
A broad range of stocks were firmer as solid third quarter
results on both sides of the Atlantic lifted confidence that
equities would be resilient in the face of economic adversity.
Beverage maker Diageo <DGE.L> added 3.5 percent, lifted
after French peer Pernod Ricard <PERP.PA> posted a 10 percent
jump in underlying sales in the last quarter, helped by a
pick-up in demand in the United States.
"It underscores the idea that you can go to defensive stocks
for growth. They are on undemanding ratings, and many are
growing their dividends," Andrew Bell, chief executive of
investment trust Witan said.
GlaxoSmithKline <GSK.L> was one company that announced it
was increasing its dividend, though its shares fell 0.5 percent
in line with a weaker pharmaceutical sector after it reported
its earnings had slipped 1 percent in the third quarter.
[]
BT Group <BT.L> was the top riser, up 4.4 percent after a
court ruled that Britain's guarantee to the group's pension
obligations extended to employees who joined the firm after its
privatisation.
UK equities shrugged off data that showed a British economy
struggling to recover strongly from an 18-month recession.
British retail sales unexpectedly fell for a second month in
a row in September, driven lower by weak clothing and fuel
sales, official data showed.
Lending to UK firms rose in August for the first time since
February but remained 5.4 percent lower than the same month a
year ago, Bank of England figures showed.
British Airways <BAY.L> was also a beneficiary of strong
results elsewhere, up 2.9 percent, buoyed by strength from its
U.S. peers. Delta Air Lines <DAL.N>, US Airways Group Inc
<LCC.N> and American Airlines parent AMR Corp <AMR.N> all posted
strong results.
TUI SLIDES
Elsewhere in the travel sector, TUI Travel <TT.L> was the
sharpest faller, down 11 percent following a restatement of its
2009 results and the announcement its finance chief would go
after the company discovered 117 million pounds ($185 million)
owed by customers that will now have to be written off.
But overall there was confidence on the sector, with
InterContinental Hotels <IHG.L> up 3.4 percent after French peer
Accor <ACCP.PA> raised its 2010 profit goal on Wednesday and
posted third-quarter sales slightly above forecasts.
Food producer Unilever <ULVR.L>, household products firm
Reckitt Benckiser <RB.L> and Associated British Foods <ABF.L>
benefited from strong results from French food group Danone,
which posted a forecast-beating 15 percent rise in third-quarter
sales.
Banks also gained with HSBC <HSBA.L> and Lloyds Banking
Group were up 1.9 and 1.8 percent, respectively.
Tullow Oil <TLW.L> was off 3.2 percent after it said an
offshore well in Ghana failed to find oil, prompting Oriel to
downgrade the British-based explorer to "reduce" from "hold".
(Editing by Karen Foster)
