FTSE 100 climbs nearly 1% as China data boosts miners

UK's FTSE 100 extended gains on Friday, driven by miners following better-than-expected economic data from China, while the prospects of global central banks nearing the end of their monetary tightening cycle further boosted risk sentiment. The blue-chip FTSE 100 index climbed 0.9% by 0705 GMT, after it hit a six-week high in the previous session. Mid-cap stocks rose 0.3%.

UK's FTSE 100 extended gains on Friday, driven by miners following better-than-expected economic data from China, while the prospects of global central banks nearing the end of their monetary tightening cycle further boosted risk sentiment.

The blue-chip FTSE 100 index climbed 0.9% by 0705 GMT, after it hit a six-week high in the previous session. Mid-cap stocks rose 0.3%. Tracking metal prices higher, miners gained 0.9% after the data from top consumer, China, was published.

Data showed China's factory output and retail sales grew at a faster pace in August, but tumbling investment in the crisis-hit property sector threatens to undercut a flurry of support steps that are showing signs of stabilising parts of the wobbly economy. Investors are expected to keenly watch interest rate decisions by the U.S. Federal Reserve and the Bank of England next week, with the European Central Bank hiking its key interest rate to a record 4% on Thursday, but signalled that this latest increase would likely be its last.