UK’s exporter-heavy FTSE 100 gained on Monday as mining stocks rose on a bet on demand recovery in top consumer China, and retailer Frasers Group jumped after announcing a share buyback.
The blue-chip FTSE 100 gained 0.1% at 8:25 GMT, trading above the 8,000 point mark after breaching a record high last week.
Frasers Group climbed 3.8% after the sports goods retailer said it intends to commence a new share buyback programme.
Industrial metal miners took an early lead, rising 0.7% as investors and traders bet on a recovery in demand from top consumer China amid support from global mining supply disruptions.
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Miners Rio Tinto and Anglo American were amongst top gainers, rising close to 1% each.
Trading was light as US markets were closed for the day for Presidents’ Day. The more-domestically focussed FTSE 250 midcap index rose 0.1%.
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