Home Commodities Commodities lift UK’s FTSE 100; GDP data shows signs of strain

Commodities lift UK’s FTSE 100; GDP data shows signs of strain

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The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo

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  • FTSE 100 up 0.5%, FTSE 250 adds 0.2%

Sept 12 (Reuters) – UK’s FTSE 100 ticked higher on Monday, tracking a bounce in global markets, but data showing the British economy grew less than expected in July kept gains in check.

The blue-chip FTSE 100 index added 0.5% at 7:07 GMT, as the commodity heavy gauge got a boost from energy (.FTNMX601010) and mining stocks (.FTNMX551020). Europe’s STOXX 600 (.STOXX) climbed 0.2%, with investors looking ahead to a key U.S. inflation data.

Data showed Britain’s economy grew less than expected in July, with a fall in power production possibly reflecting the sharp climb in energy tariffs and the construction sector also hit by a leap in inflation. read more

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Mining stocks (.FTNMX551020) gained 1.9%, tracking firm metal prices on supply risks in China and a weaker dollar that made the greenback-priced metals cheaper for holders of other currencies.

Energy stocks (.FTNMX601010) climbed 0.8%.

The mid-cap FTSE 250 (.FTMC) ticked 0.2% higher.

Betting group Entain Plc (ENT.L) slid 1.3% after Australia’s financial crimes regulator said it would be investigating the firm’s compliance with the country’s anti-money laundering and counter-terrorism financing laws. read more

Cineworld Plc (CINE.L) climbed 6.7% after a U.S. bankruptcy court had granted it access to up to $785 million of an about $1.94 billion financial aid it had secured from existing lenders. read more

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Reporting by Johann M Cherian and Bansari Mayur Kamdar in Bengaluru; Editing by Saumyadeb Chakrabarty

Our Standards: The Thomson Reuters Trust Principles.

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