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FTSE 100 closes higher on miners gain, China's stimulus hopes

Xinhua, August 11, 2015 Adjust font size:

FTSE 100 Index, British benchmark stock market gauge, Monday increased by 0.26 percent, or 17.73 points, to 6,736.22, as miners shares prices gained on China's stimulus speculation.

According to official data released at the weekend, Chinese exports fell 8.3 percent, the biggest decline in four months and more than forecasts for a one percent drop. Imports dipped 8.1 percent in July, in line with market consensus.

Chinese inflation in July grew 1.6 percent on year-on-year basis, up from 1.4 percent the previous month and ahead of estimates of 1.5 percent. However, the figure remains well below the government's target of around three percent, adding pressure to launch more stimulus to support China's economy.

Mining and metals giants led the top gainer of London market Thursday, with Rio Tinto increasing by 1.84 percent, BHP Billiton by 1.51 percent and Fresnillo by 1.80 percent.

Prices of Inmarsat and pharmaceutical company Shire closed higher by 1.68 percent and 1.51 percent respectively.

Prudential led the top losers of the blue chips with a share price drop of 1.44 percent, followed by Tesco (01.41 percent), J Sainsbury (1.23 percent), G4S (1.03 percent) and Standard Chartered (1.01 percent).

Trading volume in FTSE 100 companies was around three percent larger than the 30-day average. And the index has gained 5.01 percent so far this year. Endit