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Aug. 9, 2013, 12:32 p.m. EDT

FTSE 100 up solidly on China data

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By Nick Kostov

LONDON (MarketWatch) — The FTSE 100 was up on Friday, with more well-received data out of China boosting miners for a second day running.

The benchmark /zigman2/quotes/210598409/delayed UK:UKX -0.0088% gained 0.8 % to close at 6,583.39, after snapping a four-day losing streak on Thursday. The gain wasn’t enough to send it higher on the week, and it closed with a weekly loss of 1%.

Market optimism in Friday was fueled by data from China that showed industrial production in July was up 9.7% from a year earlier, its fastest rate of growth since February. In addition, consumer prices in China rose at a slower-than-expected rate in July, up 2.7%.

“There’s hope that the trough has bottomed out and going into the third quarter, economic activity in China will pick up,” said Timo del Carpio, a European economist at RBC Capital Markets.

Miners narrowed their losses on the year, with the top eight performers on Friday all from the sector.

Fresnillo PLC /zigman2/quotes/201300065/delayed UK:FRES -1.23% /zigman2/quotes/203613035/composite FNLPF -1.41% led the pack, up 8.2%. Randgold Resources Ltd. added 6.8%, Anglo American PLC /zigman2/quotes/201381512/delayed UK:AAL -3.93% /zigman2/quotes/204130805/composite AAUKF -4.14% rose 6.1%, Vedanta Resources PLC was up 5.4% and BHP Billiton PLC /zigman2/quotes/201448516/delayed AU:BHP -2.91% rose 3.4%. Metals prices were higher across the board.

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Shares of Rio Tinto PLC /zigman2/quotes/208934945/delayed UK:RIO -1.67% /zigman2/quotes/200083756/delayed AU:RIO -2.30% /zigman2/quotes/204234152/composite RTNTF -6.12% , the world’s second-largest iron-ore producer, added 5%.

Other big companies were also on the move. British supermarket giant Tesco PLC /zigman2/quotes/203761082/delayed UK:TSCO -0.27% /zigman2/quotes/208796454/composite TSCDF +2.11% was up 1.6% after it revealed it is in talks with China Resources Enterprise Ltd. /zigman2/quotes/201959750/delayed HK:291 +4.56% to form a joint venture in China, where foreign retailers have struggled to expand market share.

Some big U.K. retailers were bucking the positive trend. Shares of Marks & Spencer Group PLC /zigman2/quotes/206225481/delayed UK:MKS +1.99% dropped 2%, and Next PLC /zigman2/quotes/200704121/delayed UK:NXT +2.12% was down 1.3%. Luxury-clothes retailer Burberry Group PLC /zigman2/quotes/205386705/delayed UK:BRBY -0.55% lost 1%.

The biggest loser was insurance firm Standard Life PLC , down 3.3%. The insurance firm had already dropped 2.6% Thursday after reporting a 6.6% drop in first-half pretax profit.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,168.65
-0.63 -0.0088%
Volume: 617,585
July 1, 2022 4:55p
loading...
/zigman2/quotes/201300065/delayed
UK : U.K.: London
757.40 p
-9.40 -1.23%
Volume: 594,266
July 1, 2022 4:35p
P/E Ratio
18.30
Dividend Yield
3.48%
Market Cap
£5.65 billion
Rev. per Employee
£97,801
loading...
/zigman2/quotes/203613035/composite
US : U.S.: OTC
$ 9.12
-0.13 -1.41%
Volume: 8,869
July 1, 2022 3:12p
P/E Ratio
15.96
Dividend Yield
N/A
Market Cap
$6.86 billion
Rev. per Employee
$134,506
loading...
/zigman2/quotes/201381512/delayed
UK : U.K.: London
2,821.50 p
-115.50 -3.93%
Volume: 3.57M
July 1, 2022 4:35p
P/E Ratio
5.68
Dividend Yield
7.59%
Market Cap
£39.28 billion
Rev. per Employee
£474,259
loading...
/zigman2/quotes/204130805/composite
US : U.S.: OTC
$ 34.04
-1.47 -4.14%
Volume: 1,239
July 1, 2022 2:03p
P/E Ratio
4.97
Dividend Yield
8.49%
Market Cap
$47.71 billion
Rev. per Employee
$652,250
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 40.05
-1.20 -2.91%
Volume: 10.66M
July 1, 2022 4:10p
P/E Ratio
9.01
Dividend Yield
11.97%
Market Cap
$208.78 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208934945/delayed
UK : U.K.: London
4,834.50 p
-82.00 -1.67%
Volume: 2.58M
July 1, 2022 4:35p
P/E Ratio
5.14
Dividend Yield
11.95%
Market Cap
£82.95 billion
Rev. per Employee
£935,616
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 100.34
-2.36 -2.30%
Volume: 1.53M
July 1, 2022 4:10p
P/E Ratio
5.84
Dividend Yield
10.83%
Market Cap
$146.49 billion
Rev. per Employee
$1.71M
loading...
/zigman2/quotes/204234152/composite
US : U.S.: OTC
$ 69.94
-4.56 -6.12%
Volume: 6,192
July 1, 2022 2:03p
P/E Ratio
5.40
Dividend Yield
N/A
Market Cap
$100.73 billion
Rev. per Employee
$1.29M
loading...
/zigman2/quotes/203761082/delayed
UK : U.K.: London
254.80 p
-0.70 -0.27%
Volume: 8.76M
July 1, 2022 4:35p
P/E Ratio
13.12
Dividend Yield
4.28%
Market Cap
£19.06 billion
Rev. per Employee
£177,294
loading...
/zigman2/quotes/208796454/composite
US : U.S.: OTC
$ 3.15
+0.07 +2.11%
Volume: 20,636
July 1, 2022 2:03p
P/E Ratio
11.81
Dividend Yield
N/A
Market Cap
$23.15 billion
Rev. per Employee
$243,260
loading...
/zigman2/quotes/201959750/delayed
HK : Hong Kong
$ 58.50
+2.55 +4.56%
Volume: 20.12M
June 30, 2022 4:08p
P/E Ratio
34.46
Dividend Yield
1.15%
Market Cap
$189.78 billion
Rev. per Employee
$1.61M
loading...
/zigman2/quotes/206225481/delayed
UK : U.K.: London
138.20 p
+2.70 +1.99%
Volume: 3.48M
July 1, 2022 4:35p
P/E Ratio
9.15
Dividend Yield
0.00%
Market Cap
£2.65 billion
Rev. per Employee
£164,403
loading...
/zigman2/quotes/200704121/delayed
UK : U.K.: London
5,984.00 p
+124.00 +2.12%
Volume: 247,932
July 1, 2022 4:35p
P/E Ratio
11.42
Dividend Yield
2.12%
Market Cap
£7.32 billion
Rev. per Employee
£103,659
loading...
/zigman2/quotes/205386705/delayed
UK : U.K.: London
1,632.00 p
-9.00 -0.55%
Volume: 814,263
July 1, 2022 4:35p
P/E Ratio
16.70
Dividend Yield
2.88%
Market Cap
£6.55 billion
Rev. per Employee
£294,191
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Nick Kostov is a MarketWatch reporter in New York.

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