LONDON: UK’s FTSE 100 ended the week with gains on Friday as miners jumped following better-than-expected data from China, while the prospects of global central banks nearing the end of their monetary tightening further boosted risk sentiment.
The blue-chip FTSE 100 index climbed 0.5%, logging its highest weekly gain since Jan. 6 and hovering around its six-week high.
Tracking the metal prices higher, precious metal miners advanced 3.5%, while industrial metal miners rose 1.4%.
Data showed China’s factory output and retail sales grew at a faster pace in August, reflecting signs of stabilising parts in the wobbly economy.
“We believe the Chinese economy could gradually bottom out in the rest of this year amid a series of recent monetary and fiscal stimulus,” Jinyue Dong, senior economist at BBVA Research said in a note.
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