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FTSE 100 Finds Support In Weaker Pound

U.K. stocks bounced back on Friday, tracking a recovery elsewhere in Asia and Europe, as trade tensions eased and strong Chinese exports data helped oil prices to rebound from two-week lows. The British pound slipped ahead of next week's EU summit.

The benchmark FTSE 100 was up 56 points or 0.80 percent at 7,062 in late opening deals after tumbling 1.9 percent on Thursday.

Rio Tinto rallied 2.2 percent. The mining giant said that it expects aluminium demand growth to be about 3.2 percent per annum next 5 years.

Anglo American, Antofagasta and Glencore jumped 3-4 percent after data showed China's exports logged a double-digit growth in September to beat forecasts despite escalating trade tensions with the U.S.

In the energy sector, Tullow Oil rose about 1 percent and BP Plc added 1.1 percent.

Man Group climbed 2.2 percent after the hedge fund reported an increase in funds under management in the third quarter.

Emerging markets asset manager Ashmore Group gained 1 percent after its assets under management grew by $2.5 billion during the three months to the end of September.

Sports Direct advanced 1.5 percent after acquiring a property in Glasgow.

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