Business

FTSE 100: Mining shares higher on Chinese growth data

  • 20 January 2015
  • From the section Business

(Close): Mining stocks led the FTSE 100 higher as investors took the view that a slowdown in the pace of China's growth was not as bad as feared.

Glencore, up 3.9%, and Anglo American, 2.9% ahead, were among the big gainers. Bank shares also rose, led by Royal Bank of Scotland, up 3.1%.

They helped push the FTSE 100 up 34.5 points, or 0.52%, to 6,620.1.

Coca-Cola HBC fell 5.79% after JP Morgan downgraded its rating on the company to "neutral" from "overweight".

Consumer products giant Unilever fell 0.59% after it said full-year underlying sales rose 2.9%, against expectations of 3.1%.

The company, whose brands include Ben & Jerry's ice-cream, Lipton tea and Dove soap, said demand for its products in emerging markets had continued to slow.

In the FTSE 250, William Hill shares fell 4.86% after the bookmaker said fourth quarter revenues were hit by "weaker sporting results".

It said it had been hit by the football results on Boxing Day, which it described as "a very good day for the customer". All but one of the top 10 football favourites won.

On the currency markets, the pound rose 0.32% against the dollar to $1.5162, and was up 0.79% against the euro at €1.3122.