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FTSE gains for third straight day, commodities shares up

* Blue (OTC BB: BUES - news) -chip FTSE 100 index gains 0.7 percent

* Helped by stronger mining and energy shares

* TalkTalk falls after cyber attack

By Atul Prakash

LONDON, Oct (HKSE: 3366-OL.HK - news) 23 (Reuters) - Britain's top share index advanced for a third straight session on Friday, with a rally in commodity stocks on the back of stronger metals and crude oil prices supporting the market.

The UK mining index and the oil and gas index rose 0.5 percent and 0.4 percent respectively after prices of major industrial metals and crude oil gained about 1 percent.

Shares (Berlin: DI6.BE - news) in BHP Billiton (NYSE: BBL - news) , Antofagasta (Other OTC: ANFGY - news) , Anglo American and Glencore (Xetra: A1JAGV - news) were up by between 1.2 percent and 2.3 percent.

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The blue-chip FTSE 100 was up 0.7 percent at 6,421.50 points by 0754 GMT. The index, up 0.7 percent so far this week, is on track for a positive weekly close after falling the previous week.

Share (LSE: SHRE.L - news) markets in Europe have been gaining after European Central Bank chief Mario Draghi said on Thursday that falling inflation expectations, partly driven by lower than expected oil demand, had led it to consider a wide variety of possible measures, including a deposit rate cut.

"The FTSE 100 has seen gains continuing on the back of Mario Draghi's comments, with stronger prices of metals and oil helping miners and energy stocks," Jawaid Afsar, senior trader at Securequity, said.

"While the rally continues, volatility is likely to remain high in the near term, given that commodity prices could come under pressure again following concerns about the pace of China's economic growth."

Builders' merchant Travis Perkins (LSE: TPK.L - news) rose 2 percent on bargain-hunting, traders said, after shares in the owner of DIY stores Wickes and heating supplies group BSS fell 6 percent in the previous session on comments that its full-year earnings would be at the lower end of market expectations.

On the downside, shares in mid-cap British bookmaker William Hill fell more than 6 percent after the company said it expected full-year operating profit to be near the lower end of analysts' expectations following a weak third quarter.

TalkTalk, another FTSE 250 company, fell 6.7 percent after saying that a "significant and sustained" cyber attack on its website could involve the theft of private data from all of the broadband supplier's more than 4 million customers.

(Editing by David Goodman)