Miners boost FTSE 100 on China optimism; Vistry jumps

Data showed China's consumer prices returned to positive territory in August, while the country's new bank loans jumped more-than-expected last month, reflecting signs of economic stabilisation of the top metals consumer. Industrial metal miners gained 2.8%.

The UK's exporter-heavy FTSE 100 index opened higher on Monday boosted by miners after positive China data signalled stability in the world's second-largest economy, while Vistry shares jumped after the homebuilder kept its annual profit outlook.

The blue-chip FTSE 100 index rose 0.6% in early trade, while the mid-cap FTSE 250 index was up 0.4%. Data showed China's consumer prices returned to positive territory in August, while the country's new bank loans jumped more-than-expected last month, reflecting signs of economic stabilisation of the top metals consumer.

Industrial metal miners gained 2.8%. Vistry Group jumped 14.4% after the British homebuilder said it would merge its affordable-housing business 'Partnerships' with its Housebuilding operations, while maintaining its annual profit forecast.

AstraZeneca was down 0.6%, after The Mail reported on Sunday that the drugmaker's CEO Pascal Soriot had privately told friends and trusted advisers that he was looking to step down. Barclays rose 0.7% after Reuters reported that the lender is drawing up plans to cut hundreds of jobs, citing two sources familiar with the matter, as the bank trims its costs while embarking on a wider strategy review.

 

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