Miners boost Britain's FTSE to near 1-month high
* FTSE 100 up 0.7 pct at highest level since mid-August
* Glencore rises on bigger-than-expected synergies
* Airlines receive boost as Syria fears subside
* UK data cheers housebuilders (Updates prices, adds quote, detail)
By Alistair Smout
LONDON, Sept 10 (Reuters) - Britain's main share index rose to its highest level in nearly a month on Tuesday, bolstered by strength in the resources sector after an upbeat report from miner Glencore Xstrata and robust Chinese data.
The possibility of an international compromise over chemical weapons in Syria lifted broad sentiment, with airlines benefiting in particular from a lower oil price and cooled tensions in the Middle East.
Shares in Glencore Xstrata rose 3.3 percent to 331.4p after it upped its forecast for synergies from last year's merger to at least $2 billion for next year from initial guidance of $500 million, and hinted at further savings ahead.
Glencore and Rio Tinto, which benefited from a target price upgrade by JP Morgan, led miners higher, and combined to add eight points to the FTSE 100.
"The fact that Glencore Xstrata will see synergies in excess of $2 billion is giving it a real boost, although there's still plenty more upside there," Alastair McCaig, analyst at IG, said, adding that he was looking for the stock to head towards 400p.
The mining sector was also boosted after stronger-than-expected industrial output reinforced other signs that China's economy is stabilising.
The FTSE 100 was 48.08 points, or 0.7 percent higher at 6,578.82 by 1024 GMT, with basic material stocks, including miners and commodity traders, adding 12 points to the index.
Budget airline easyJet was the biggest gainer in percentage terms, up 5.8 percent after Russia offered to help put Syria's chemical weapons under international control, calming worries of a potential U.S.-led strike against the country.
EasyJet rebounded to its highest level in a month, regaining ground lost earlier in September when fears of instability in the region first knocked the stock back. Fellow airline group IAG rose 4.6 percent.
Housebuilders like Persimmon were also among gainers, cheering news that British property prices recorded their fastest rise in almost seven years last month and a measure of sales volumes also jumped to a multi-year high.
Credit Suisse cited strong economic data as one of the reasons why it was sticking to its overweight on UK equities.
"On our macro momentum scorecard, the UK scores second top," the bank's analysts wrote in a note, adding that "policy looks to stay very reflationary", with prospects for more fiscal easing in the run-up to elections due in 2015. (Additional reporting by Toni Vorobyova; editing by Stephen Nisbet)
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