LONDON MARKETS: Rio Tinto, Vodafone Lift FTSE 100 For First Day In Three

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- U.K.'s FTSE 100 index snapped a two-day losing streak on Wednesday, with shares of Rio Tinto PLC and Vodafone Group PLC pushing the benchmark higher.

The FTSE 100 index gained 0.5% to 6,706.27, rising in line with the broader European trading mood.

Movers: Rio Tinto PLC (RIO) gained 2.4% after Morgan Stanley lifted the mining giant to overweight from equal weight.

Precious-metals miner Fresnillo PLC rose 2.2% after UBS added the company to its most-preferred list.

Vodafone Group PLC (VOD) put on 2.8% after the company's Chief Executive Jeroen Hoencamp late Tuesday said he expects to return the business to growth, in both profit and revenue terms, over the next 18 to 24 months.

Meanwhile, shares of AstraZeneca PLC (AZN) lost 0.4%. The drop in the pharmaceutical company shares followed a 3.6% loss from Tuesday, after the U.S. Treasury Department issued new rules meant to dampen an influx of merger's (including announced mergers involving AstraZeneca) intended to sidestep U.S. taxes.

Tate & Lyle PLC fell 1.3% after Société Générale cut the ingredients maker to hold from buy.

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