Source - SMW
UK stocks opened substantially higher on Monday, recovering some of last week's steep losses, as stronger commodity prices buoyed miners.

At 0855, the benchmark FTSE 100 index was up 93.50 points, or 1.3%, at 7,185.93.

Glencore, Rio Tinto and Anglo American led the resources sector higher, with gains of 2.9%, 2.7% and 2.7%, respectively.

Barclays said it faced criminal charges in relation to a controversial $3bn loan secured from Qatar in 2008. Investors shrugged off the news, pushing the bank's shares up 1.4%.

Acacia Mining dropped 6.3% after the gold miner scrapped its dividend amid a 29% slump in annual revenue.

Wood Group said it had won a 'multi-million dollar' five-year contract to support Saudi Aramco in the delivery of the Marjan oil field in Saudi Arabia. The services company's shares gained 2.3%.

Consumer goods group UP Global Sourcing tumbled 36% after it warned on profits amid a 41% slide in first-half revenue, which it blamed on 'ongoing challenges' in the general merchandise retail market.

Insurance group Saga gained 4.5% on the back of news that it had signed a new reinsurance agreement with NewRe and Hannover Re.

Euromoney Institutional Investor agreed to sell its global markets intelligence division to  CITIC Capital Partners for $180.5m. The financial publisher's shares gained 1.8%.

Engineering group Aveva after US regulators cleared its acquisition of the Schneider Electric industrial software business. Its shares gained 0.7%.

Waste management business Renewi said trading during the 'seasonally quiet' second quarter was in line with its expectations, helping to push its shares 1.7% higher.

Online women's fashion retailer Sosandar rallied 9.2% after announcing that revenue during December and January exceeded its expectations, with growth driven by new customer acquisitions and increased repeat purchasing.