Miners lift FTSE 100 on China optimism; CMC Markets gains

Precious metal miners climbed 0.1%, tracking gains in gold prices. LSEG shares rose 0.1%, after the Financial Times reported that the company had drawn up plans for a blockchain-based new digital markets business.

UK's FTSE 100 opened higher on Monday, led by mining stocks after China rolled out new measures to prop up its stuttering economy, while London Stock Exchange Group (LSEG) rose on the back of plans for a blockchain-based digital assets business.

The exporter-heavy FTSE 100 index gained 0.6% by 0703 GMT, while the mid-cap FTSE 250 index was up 0.3%. Industrial metal miners rose 1.8%, leading sectoral gains.

China stepped up measures on Friday to boost the country's faltering economy, with top banks paving the way for further cuts in lending rates and sources saying Beijing plans further action including relaxing home-purchase restrictions. Precious metal miners climbed 0.1%, tracking gains in gold prices.

LSEG shares rose 0.1%, after the Financial Times reported that the company had drawn up plans for a blockchain-based new digital markets business. CMC Markets said Albert Soleiman had been appointed as its chief financial officer, sending its shares up 2.8%. The stock was among the biggest gainers on the mid-cap index.

Wood Group said it had signed a new agreement valued at around $330 million for UK North Sea operations with Harbour Energy. Wood Group and Harbour Energy rose 1.1% and 1.3%, respectively.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)