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Updated at 0827 GMT
By Siddarth S
Sept 15 (Reuters) - UK's FTSE 100 hit a more than three-month high on Friday as miners gained 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 0.7% as of 0827 GMT and was set for its highest weekly gain since Jan. 6, if gains hold.
Tracking the metal prices higher, miners .FTNMX551020 advanced 0.8%.
Data showed China's factory output and retail sales grew at a faster pace in August, that reflected signs of stabilising parts of the wobbly economy.
"There's a growing sense of optimism among a cohort of investors who believe that Beijing's recent initiatives to stimulate the economy and stabilize financial markets are showing signs of success," Stephen Innes, managing partner at SPI Asset Management said in a .
Investors await interest rate decisions by the U.S. Federal Reserve and the Bank of England week after the European Central Bank hiked the key lending rate to a record 4% on Thursday, but signalled that the latest increase would likely be its last.
Traders bet a 97% chance of the Fed holding rates steady in its Sept. 20 policy meeting, according to the CME FedWatch Tool.
The BoE is expected to hike rates by 25 basis points on Sept. 21 to its highest in more than 15 years, a
Reuters poll
of economists showed.
Mid-cap stocks .FTMC rose 0.2% aided by a 10.5% jump in shares of Games Workshop Group GAW.L after the miniature wargame maker forecast higher quarterly pre-tax profit.
Great Portland Estates GPEG.L shares rose 1.4% after Goldman Sachs upgraded the property development and investment company.
Real estate .FTUB3510 and real estate investment trust .FTNMX351020 stocks declined more than 0.3% each as gilt yields GB10YT=RR slipped.
(Reporting by Siddarth S in Bengaluru; Editing by Sherry Jacob-Phillips and Dhanya Ann Thoppil)
((Siddarth.s@thomsonreuters.com;))
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