U.K. stocks rose on Monday after a slew of data from China pointed to a broad-based recovery in the world’s second-largest economy.
Industrial production in China jumped 35.1 percent year-on-year in the period including January and February – beating forecasts for an increase of 30 percent.
Retail sales spiked an annual 33.8 percent to exceed expectations while weaker-than-expected investment growth and rise in unemployment disappointed markets.
The benchmark FTSE 100 inched up 29 points, or 0.4 percent, to 6,790 after rising 0.4 percent on Friday.
Flutter Entertainment shares surged 7 percent. The owner of the Paddy Power and Betfair brands said it is considering an initial public offering of its U.S.-focused FanDuel sports betting and fantasy sports business.
Bus and train group Stagecoach edged down slightly. Welcoming a new £3 billion plan from the government to “shake-up” public transport, the company said there is a major opportunity to reverse a cycle of declining bus use.
Provident Financial shares slumped as much as 28 percent. The credit lender said the Financial Conduct Authority has opened an investigation into conduct issues at its home credit business over the past year.
Market Analysis
FTSE 100 Modestly Higher On China Data
2021-03-15 09:41:21
