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FTSE 100 Modestly Higher In Early Trade

U.K. stocks eked out modest gains on Monday, with resource stocks gaining ground after Chinese policymakers ramped up support for the economy and companies that have been hit by a slump in sales and activity.

China's central bank pumped 100 billion yuan (about 14.33 billion U.S. dollars) into the financial system today through reverse repos in a bid to improve liquidity in the system

The central bank also injected 200 billion yuan into the market via medium-term lending facility as China continues to battle the outbreak of the deadly Coronavirus.

China's Finance Minister has unveiled plans to roll out targeted and phased tax and fee cuts to help relieve difficulties for businesses.

The benchmark FTSE 100 was up 16 points, or 0.22 percent, at 7,425 after losing 0.6 percent on Friday.

Mining giant Antofagasta rose about 1 percent and Glencore advanced 0.7 percent.

Oil & gas company BP Plc added 0.8 percent while Royal Dutch Shell gained 0.7 percent.

Tullow Oil fell nearly 5 percent after the company announced that its Marina-1 exploration well in Peru had reached total depth without coming across any hydro carbons.

South Africa-based banking group Investec edged down slightly after saying Ninety One plans to proceed with an Initial Public Offering.

Jupiter Fund Manager shares jumped more than 8 percent. The company has announced the proposed acquisition of Merian Global Investors Limited, an independent active asset management firm with more than £22 billion assets under management.

NMC Health shares fluctuated as its billionaire founder resigned as co-chair in a mass board exodus at the embattled private healthcare firm.

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