UK’s blue-chip FTSE 100 was trading flat on Monday after miners slumped following top metals consumer China’s decision to set a modest growth target for the year, offsetting a strong performance by Ireland-based gaming company Flutter.
The export-oriented FTSE 100 held its ground at 7,947.84 pounds and the more domestically-focussed FTSE 250 was also flat by 0817 GMT.
The FTSE 350 industrial metals miners lost 1.7%.
Copper prices were in the red as top consumer China set a lower-than-expected gross domestic product target of 5%. Policy sources had recently told Reuters a range as high as 6% could be set.
Shares of Flutter Entertainment Plc climbed 1.8% after brokerage Citigroup raised the stock’s price target to 13,500 pounds ($16,251.30) from 12,500 pounds.
Upbeat earnings help FTSE 100 rebound from last week’s selloff
AstraZeneca Plc said a mid-stage trial of its cancer drug Enhertu showed positive results for treating other tumours as well, lifting shares of the drugmaker by 0.1%.
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