China provides boost to the markets

China provides boost to the markets

The FTSE 100 surged 1.354pc to 6,783.30 following news from China that its manufacturing reading in the Caixin Survey was 1pc above its forecast, while the Chinese Government said it would assist the economy after broadly disappointing economic indicators were released.

Mining giants led a strong FTSE 100, with Antofagasta gaining 3.88pc.

Brent crude rose 2.38pc to $57.28 after China said it would hold trade talks with the US, while signs of lower supplies helped support gains.

Sterling rose 0.3pc against the dollar at $1.2670 spurred by fears of a global economic slowdown, although gains were limited by concerns over Brexit.

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