FTSE 100 Gains As Miners Surge On China Data
(RTTNews) - U.K. stocks traded higher on Thursday, with encouraging manufacturing data from China and easing U.S. debt default fears helping underpin sentiment.
Investors shrugged off domestic data showing that U.K. factory activity contracted again in May and mortgage approvals fell unexpectedly.
The benchmark FTSE 100 was up 38 points, or half a percent, at 7,484 after closing 1 percent lower on Wednesday.
Miners Anglo American and Antofagasta both rallied around 2 percent as concerns about China's economic recovery eased.
Bootmaker Dr Martens plunged 10 percent after a warning that its profit margins will fall this year.
BAE Systems gained about 1 percent. The provider of defence, aerospace, and security solutions, announced has entered into an arrangement with Morgan Stanley & Co. International plc to initiate the share repurchase of 500 million pounds worth of shares in the third tranche.
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