Stronger than expected Chinese economic data released during the Asia session Monday helped to boost London's resource heavy stock markets while benchmarks elsewhere in Europe were seen sliding deeper into the red as the market close approached.
Gross domestic product data showed the Chinese economy growing at a rate of 6.9% during the second quarter, faster than the 6.8% forecast by economists, while industrial production and fixed asset investment also came in ahead of expectations.
The data helped to boost sentiment toward the global economy among investors and lifted metals prices across the board, with a subsequent read-across into stock markets throughout much of the session.
In London the FTSE 100 was 0.40% higher, at 7,408, an hour out from the close while the mid-market FTSE 250 index gained 0.52% to 19,508.
This was while in Paris the CAC 40 slid 0.03% to 5,233 and, in Frankfurt, the DAX index traded 0.33% lower to 12,590. Over in Southern Europe both the FTSE MIB in Milan and IBEX in Madrid also slid for the session.
The crisis hit Carillion benefited from having won a share of a large government contract to help build a new high speed rail line in England, after several days of concerns over its future drove a 70% rout in its share price, helping the stock to rise by around 9%. Weir gained 8% after issuing a strong trading update and cheered an accelerating recovery in the U.S. construction industry.
Predicavbly, Glencore (GLNCF) and BHP Billiton (BHP) were both found close to the top of the board in London, alongside copper miner Antofagasta (ANFGY) , all of which were up 2% or more during afternoon trading.
All are interest rate sensitive stocks that have possibly been hampered unease over the likely tone of Mario Draghi & Co at the European Central Bank's latest interest rate decision and subsequent press conference later this week.
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