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FTSE 100 Edges Higher As Miners Rebound

U.K. stocks rose on Friday as miners rebounded amid easing concerns over Chinese property market.

China Evergrande Group reportedly supplied funds to pay interest on a U.S. dollar bond, helping ease contagion fears.

The benchmark FTSE 100 rose 28 points, or 0.4 percent, to 7,219 after closing half a percent lower on Thursday.

Antofagasta rallied 3.2 percent and Rio Tinto advanced 1.4 percent after China's Evergrande made a surprise interest payment.

Grocer J Sainsbury edged down slightly after saying it ended talks over the sale of its banking unit.

London Stock Exchange tumbled 3.4 percent after a warning that "supply chain pressures may impact the timing of some technology spend this year."

Intercontinental Hotels lost 2.7 percent. The hotel chain said its revenue per available room was 21 percent below 2019 levels in the third quarter.

JD Sports Fashion gained 2.4 percent after it acquired 80 percent of Greece-based Cosmos Sport S.A.

In economic releases, U.K. retail sales volume including auto fuel decreased 0.2 percent month-on-month in September, after easing by revised 0.6 percent in August, the Office for National Statistics said. Sales were forecast to grow 0.5 percent.

On a yearly basis, retail sales volume declined 1.3 percent, bigger than August's 0.2 percent fall and the economists' forecast of -0.4 percent.

Separately, survey results from market research group GfK showed that U.K. consumer confidence weakened for the third straight month in October.

The corresponding index fell to -17 from -13 in September. The expected reading was -16.

The seasonally adjusted IHS Markit/CIPS U.K. manufacturing PMI unexpectedly improved to 57.7 in October versus 55.8 expected while the services PMI came in at 58.0 versus 54.5 expected.

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