Britain's FTSE rises, helped by record highs on Wall Street

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)

* FTSE 100 up 1 percent

* Four U.S. indexes rise to record

* Mining companies rise again

* Compass, Kingfisher (Frankfurt: 812861 - news) and Babcock fall after results

By Alistair Smout

LONDON, Nov 22 (Reuters) - Britain's top share index rose on Tuesday, buoyed by record-high closes on Wall Street that lifted global sentiment and a rally in mining shares.

Britain's FTSE 100 was up 1 percent, its biggest one-day rally for nearly two weeks. Traders cited renewed enthusiasm for equities after the three main U.S. indexes and small-cap Russell index all closed at a record high for the first time since December 1999.

However, the FTSE 100 remains in a tight trading range, which has persisted throughout November, and is down 4 percent from the record high hit in October.

Mining stocks rose 3.5 percent, among the top gainers, with Anglo American (LSE: AAL.L - news) , BHP Billiton (NYSE: BBL - news) , Antofagasta (Other OTC: ANFGF - news) and Glencore (HKSE: 0805.HK - news) up 3.7 to 5.4 percent.

The sector is up nearly 5 percent since the election of Donald Trump as U.S. president spurred bets that his planned fiscal stimulus would spur inflation in the economy.

However, the FTSE's heavy weighting in defensive sectors that underperform during times of reflation has seen it stay in a 300-point range since the election.

"The FTSE has been in a small range over the last few weeks, having made new highs," said Atif Latif, director at Guardian Stockbrokers.

"The U.S. market has continued to rally since the election ... and the commodity sector has been one of the strongest performers. But given this significant move, the FTSE appears to be in a consolidation phase."

Several companies fell after poorly received earnings reports.

Compass Group (Other OTC: CMPGF - news) was set for its biggest fall in over two years, down 6 percent, after its results. Trading in the U.S. remained strong, but analysts said that it had fared less well in Europe and Britain, and its margins were unimpressive.

"Compass are to some extent suffering from the curse of being a well-run business with a great track record," analysts at Hargreaves Lansdown (LSE: HL.L - news) said in a note.

"A strong performance in North America and currency tailwinds have boosted Compass' results in the second half. However, a weaker than expected fourth quarter and flat margins have still sent the shares down in early trading."

Babcock and Kingfisher also dropped after results, down 4.9 percent and 2.7 percent respectively.

Among mid-caps, Entertainment One (Other OTC: ENTMF - news) dropped 10 percent after it reported a fall in first-half profit.

TalkTalk dropped 5.5 percent to its lowest since June 2012. It is down 20 percent since it reported results this time last week.

Rotork (Frankfurt: RO41.F - news) rose nearly 14 percent after the valve maker said it saw revenues at the top end of expectations, wrong-footing those that had bet on falls for the stock.

Bank BGEO Group rose 11 percent after reporting a 75 percent rise in profit. (Reporting by Alistair Smout, editing by Larry King)