LONDON MARKETS: FTSE 100 Scores 7-day Winning Run; Bunzl Jumps

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- After a choppy session, the U.K.'s FTSE 100 index ended higher for a seventh straight day on Monday with gains for Bunzl PLC and Vodafone Group PLC offsetting weakness in HSBC Holdings PLC after a disappointing earnings report.

The FTSE 100 index gained 0.4% to close at 6,865.86, after swinging between gains and losses for most of the session.

The broader positive sentiment came after U.S. markets opened in the green, with the S&P 500 scoring an intraday record.

Among notable movers in London, shares of Bunzl PLC picked up 6.9% after the distribution and outsourcing company reported an 8% rise in 2013 earnings per share.

Shares of Vodafone Group PLC (VOD) rose 3.1% as a share consolidation following the sale of its Verizon Wireless stake became effective.

Adding pressure on the U.K. benchmark, shares of HSBC (HSBC) lost 2.8% after the banking major posted a profit that fell short of expectations. Full-year 2013 pretax profit for the bank rose 9% to $22.56 billion, compared with $20.65 billion a year ago. A consensus forecast of analysts polled by Bloomberg News called for a profit of $24.6 billion.

Shares of RSA Insurance Group PLC gave up 3.7% after the company scrapped plans to raise emergency funds through a small group of investors and instead will press ahead with a cash call for at least 500 million pounds ($831 million) to be asked of all shareholders, according to The Times.

On a sector basis, mining firms posted some of the biggest losses on renewed concerns about a tightening in the Chinese property market. Stubbornly high property prices have triggered worries that a fresh round of market curbs by Beijing is looming. Adding to those fears, Chinese local media said a medium-sized bank has tightened its financing to property developers because of heightened risk.

Miners are sensitive to China's construction sector as the country is a major user of natural resources. Shares of Rio Tinto PLC (RIO) dropped 1.8%, Anglo American PLC lost 1.7%, Antofagasta PLC fell 2.3%, and BHP Billiton PLC (BHP) gave up 0.5%.

Outside the main index, shares of Dixons Retail PLC jumped 6.7% and Carphone Warehouse Group PLC rallied 8.8% after the two retailers confirmed they are in preliminary discussions about a potential merger.

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