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Britain's FTSE rallies as DCC, Taylor Wimpey buoyed by earnings
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* FTSE 100 up 1 pct
* DCC (LSE: DCC.L - news) soars after results
* Taylor Wimpey (LSE: TW.L - news) also gains after update
* Greencore Group (LSE: GNC.L - news) leads mid caps after merger news
By Kit Rees
LONDON, Nov 14 (Reuters) - Britain's top share index climbed on Monday, led higher by a jump in support services firm DCC and housebuilder Taylor Wimpey which both rose on well-received results.
The blue chip FTSE 100 index rose 1 percent to 6,799.17 points by 1025 GMT, in line with a broader bounce on European equity markets.
DCC was the top riser, up more than 6 percent and set for its biggest one-day gain in a year after saying it expected full-year profit to come in ahead of expectations.
The firm, whose activities span oil distribution, waste management and food distribution, also said it would buy a 97 pct stake in French natural gas retail and marketing business Gaz Européen.
"DCC is a very well-run company," Jonathan Roy of Charles Hanover Investments said.
"They're actually exposed in quite a few different areas, so it's a company that doesn't really trade on external factors. It's all about its internal progression, and that's been quite strong."
Housebuilder Taylor Wimpey climbed 3.4 percent after saying it expected an increase in full-year operating profit margin, adding that trading had remained resilient following Britain's vote to leave the European Union.
"Taylor Wimpey's plans for 2016 have not been derailed by this year's political events and the forward orderbook suggests that profits will grow further in 2017," analysts at Jefferies said in a note, adding that Taylor Wimpey was their top pick among the housebuilders they covered.
Retailer Marks and Spencer rose 3.8 after Citigroup (Swiss: C.SW - news) upgraded its rating on the stock to "buy".
Shares (Berlin: DI6.BE - news) in Marks and Spencer had suffered after the firm reported results earlier this month and announced plans to close stores and switch space towards food and away from fashion.
"Investor (LSE: 0NC5.L - news) concerns look overdone," analysts at Citigroup said in a note.
"Execution remains a key risk - Our Buy rating is predicated on MKS delivering on its strategic elements while maintaining its returns within Food."
The FTSE 100 had been under pressure from falls among EM-exposed stocks at the end of last week, which fell after Donald Trump won the U.S. presidential election.
Shares in utilities and more defensive stocks also suffered as investors piled into a 'reflation' trade, favouring shares in mining and construction companies expected to benefit from Trump's plans to up spending on infrastructure.
Shares in National Grid (LSE: NG.L - news) , Severn Trent (Other OTC: STRNY - news) and United Utilities (LSE: UU.L - news) were among the worst performers on the FTSE 100 on Monday.
Beyond the blue chips, a 12.6 percent leap in Greencore Group's shares buoyed the UK mid cap index, which was up 0.7 percent.
Greencore Group said that it planned to buy U.S. convenience food manufacturer Peacock Foods for $747.5 million in a bid to transform its U.S. business. (Reporting by Kit Rees; Editing by Andrew Heavens)
