Anglo American up after report BHP considering better offer
Petrofac hits recordlow after delaying fullyear results
FTSE 100 up 0.4, FTSE 250 adds 0.3

April 29 Reuters Britain39;s FTSE 100 extended its record rally on Monday, helped by a slew of positive corporate updates including a report that said mining giant BHP Group was considering a better buyout proposal for Anglo American.

The bluechip FTSE 100 rose 0.4 to hit an alltime high of 8,185.59 points by 0828 GMT. The index was set to notch gains for the eighth session out of the past nine.

There are a lot of companies that look attractive, so this is not a shortterm rally. We are positioned to outperform in a rising market, said David Cumming, head of UK Equities at Newton Investment Management.

The UK is playing a slightly different tune because we39;re expecting rate cuts irrespective what39;s happening in the U.S. So we can decouple a little bit.

British stocks appear to have turned a corner after months of underperformance compared to their global peers as signs of inflation coming under control, a weakening pound and a recovering economy attract buyers.

While concerns remain that the U.S. Federal Reserve will delay interest rate cuts this year, market participants expect the Bank of England to start easing rates in August.

Anglo American added 1.7 after a source familiar with the matter told Reuters that BHP Group is considering an improved offer after its 39 billion proposal was rejected by the…