FTSE 100 Rises As Miners Surge On China Stimulus Hopes

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Stocktwits
FTSE 100 Rises As Miners Surge On China Stimulus Hopes

(RTTNews) - U.K. stocks rose on Monday, with miners leading the surge on hopes of additional policy stimulus in China.

A private survey showed China's factory activity slowed in June, raising calls for more stimulus to boost growth.

Closer home, the S&P Global U.K. Manufacturing PMI dropped to 46.5 in June from 47.1 in May.

The benchmark FTSE 100 was up 21 points, or 0.3 percent, at 7,552 after rising 0.8 percent on Friday.

Gains in metal prices lifted mining stocks, with Anglo American, Antofagasta and Glencore rallying 2-4 percent.

Supermarket chain Tesco gained about 1 percent as it appointed a new chairman to replace its former chair, John Allan, who stepped down last month following allegations of misconduct.

AstraZeneca plunged nearly 6 percent after results from a high-level study of a new cancer medicine lagged expectations.

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