London stocks opened higher, Rio Tinto slips on acquisition plan
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FTSE 100 up 0.4%
Oct 9 (Reuters) -UK shares rose on Wednesday, rebounding from a one-month low in the previous session, although Rio Tinto slipped after announcing it would buy Arcadium Lithium.
The blue-chip FTSE 100 .FTSE moved 0.4% higher by 07:15 GMT, while the mid-cap FTSE 250 .FTMC was up 0.2%.
A majority of the sectoral indexes traded in the green, led by a 1.2% rise in construction and materials .FTNMX501010 stocks.
Among individual stocks, Rio Tinto's UK-listed shares RIO.L slipped 0.7% after the Australian miner said it would buy Arcadium Lithium ALTM.N in a $6.7 billion all-cash deal to become the world's third-largest lithium producer.
Mondi MNDI.L gained 3% after the paper and packaging firm agreed to buy Schumacher Packaging's German, Benelux and UK packaging assets for 634 million euros ($695.6 million), including debt, to expand in Western Europe.
CMC Markets CMCX.L advanced 5.7% after the trading platform forecast a 45% rise in first-half net operating income, buoyed by cost cuts and sustained levels of trading activity.
Reporting by Khushi Singh in Bengaluru; Editing by Savio D'Souza
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