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* FTSE 100 up 0.7 pct
* Oil and mining stocks gain ground
* Burberry extends previous day's slide
By Kit Rees
LONDON, Oct 16 (Reuters) - Britain's top share index rose onFriday as investors stepped in to buy up commodity stocks afteroil and metals prices climbed on cuts to global supply.
The blue-chip FTSE 100 index was up by 0.7 percentat 6,384.93 points going into the middle of the trading session.
Oil companies BP and Royal Dutch Shell bothadvanced more than 2 percent, as oil prices bounced up partly onexpectations of a decline in U.S. shale output.
Mining companies also gained ground, with Glencore the top FTSE stock as it rose 2.9 percent after copper pricesclimbed close to a one-month peak on cuts to mine supply and arevival in Chinese demand.
"These stocks have had a major hammering (in) the lastnumber of months," David Madden, market analyst at IG, said. Headded that investors could be seeing the relatively cheap miningstocks as a bargain-hunting opportunity.
Burberry was the biggest loser on the FTSE, falling2.4 percent to extend the previous session's slide, as a profitwarning late on Thursday from German peer Hugo Boss hit Burberry and other luxury goods companies.
Hugo Boss cut its 2015 sales and profit outlook, while pricetarget cuts from brokers on Burberry's shares added furtherpressure to the British company on Friday, whose shares hadalready slumped 8.3 percent on Thursday on weak sales growth. (Editing by Toby Chopra)
