Economic news

Miners Lead FTSE 100 Higher After Upbeat China Data

London’s FTSE 100 climbed on Tuesday as upbeat industrial output data from China powered shares of trade-exposed miners, while online supermarket Ocado surged on reporting a jump in quarterly retail sales.

The blue-chip FTSE 100 was up 0.2% with Rio Tinto , BHP Group and Glencore providing the biggest boost.

Ocado Group rose 6.2% to the top of the FTSE 100 after saying its retail joint venture with Marks & Spencer posted a 52% jump in revenue in the 13 weeks to Aug. 30.

The mid-cap FTSE 250 rose 0.4%.

The index, considered a barometer of Brexit sentiment, has underperformed the FTSE 100 this month following Prime Minister Boris Johnson’s plan to breach the Brexit treaty with the European Union. The proposal won initial approval in the UK parliament on Monday.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu)

Source: Reuters


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