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(Close): Mining shares led the FTSE 100 higher after a survey indicated China's manufacturing sector grew at its fastest pace for six months in June. | |
China is the world's biggest consumer of metals, so the news lifted the mining sector in London. | China is the world's biggest consumer of metals, so the news lifted the mining sector in London. |
Shares in Anglo American rose by 4%, while Rio Tinto and Fresnillo rose by 3% and BHP Billiton ended 2.9% higher. | |
The benchmark FTSE 100 index ended up 58.98 points, or 0.87%, at 6802.92. | |
Shares in Morrisons supermarket fell by 1.74% after the latest survey from market research firm Kantar Worldpanel showed them losing sales and market share. | |
Sales at Morrisons fell 3.8% with its market share down to 10.9% from 11.7%. | |
In the FTSE 250, shares in online retailer Ocado fell 4.4% despite it reporting a half-year pre-tax profit of £7.5m. | |
Analysts noted a slowdown in sales growth and there are also concerns about fierce price competition in the grocery sector. | Analysts noted a slowdown in sales growth and there are also concerns about fierce price competition in the grocery sector. |
Shares in Greggs rose 4.38% after the bakery chain said it was on track to report better half-year results. | |
Like-for-like revenues increased 3.2% in the 26 weeks to 28 June, and Greggs says it now expects to report half-year operating profits of £16m-£17m, compared with £11.5m a year earlier. | Like-for-like revenues increased 3.2% in the 26 weeks to 28 June, and Greggs says it now expects to report half-year operating profits of £16m-£17m, compared with £11.5m a year earlier. |
On the currency markets, the pound rose 0.31% against the dollar to $1.7159 and was up 0.34% against the euro at 1.2536 euros. |