FTSE 100 climbs nearly 1% as China data boosts miners

Reuters · 09/15/2023 07:14
FTSE 100 climbs 1% as China data boosts miners

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FTSE 100 climbs 0.9%, FTSE 250 adds 0.3%


Sept 15 (Reuters) - UK's FTSE 100 extended gains on Friday, driven by miners following better-than-expected economic data from China, while the prospects of global central banks the end of their monetary tightening cycle further boosted risk sentiment.

The blue-chip FTSE 100 index .FTSE climbed 0.9% by 0705 GMT, after it hit a six-week high in the previous session. Mid-cap stocks .FTMC rose 0.3%.

Tracking metal prices higher, miners .FTNMX551020 gained 0.9% after the data from top consumer, China, was published.

Data showed China's factory output and retail sales grew at a faster pace in August, but tumbling investment in the crisis-hit property sector threatens to undercut a flurry of support steps that are showing signs of stabilising parts of the wobbly economy.

Investors are expected to keenly watch interest rate decisions by the U.S. Federal Reserve and the Bank of England week, with the European Central Bank hiking its key interest rate to a record 4% on Thursday, but signalled that this latest increase would likely be its last.




(Reporting by Siddarth S in Bengaluru; Editing by Sherry Jacob-Phillips)

((Siddarth.s@thomsonreuters.com;))


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