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FTSE 100 Up 47 Points Led By Miners

U.K. shares rose notably on Monday as upbeat factory activity data from China helped lift mining stocks and airlines also rallied after rival Monarch Airlines went into administration.

Investors shrugged off data from IHS Markit, which showed that the U.K. manufacturing sector continued to expand in September, albeit at a slower pace compared to August. The PMI fell more than expected to 55.9 from a 4-month high of 56.7 in August.

The benchmark FTSE 100 was up 47 points or 0.63 percent at 7,419 in late opening deals after rising 0.7 percent on Friday.

Antofagasta, Anglo American and Glencore gained 1-2 percent as copper futures edged up after upbeat economic data from China and Japan.

Shares of easyJet rallied 3.4 percent and Ryanair Holdings jumped 2.6 percent after Monarch Airlines had been placed into administration.

Housebuilder Barratt Developments soared almost 4 percent on expectations that the government will extend the 'Help to Buy' scheme to stimulate the demand side of the housing market.

Building materials group CRH lost over 1 percent on a Bloomberg report that it is nearing an agreement to acquire Florida-based cement company Suwannee American Cement LLC from Votorantim Cimentos SA and Anderson Columbia Co.

Daily Mail and General Trust declined 2 percent. The newspapers publisher expects its full-year pretax profit to be at the lower end of market expectations.

by RTT Staff Writer

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