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Oct. 24, 2013, 12:11 p.m. EDT

Resource firms rise in London after China data

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By Sara Sjolin, MarketWatch

LONDON (MarketWatch) — Resource firms rose in London on Thursday after Chinese manufacturing data pointed to the best level in seven months, while Shire PLC rallied after lifting its full-year guidance.

The FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX -0.45%  climbed 0.6% to 6,713.18, marking the highest closing level since May.

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The gain came as Chinese data pointed to a continued recovery in the country’s manufacturing sector. HSBC’s “flash” reading of October’s manufacturing purchasing managers’ index (PMI) rose to a seven-month high of 50.9, up from September’s final reading of 50.2, though it remained just below the Chinese government’s own PMI, which hit 51.1 last month.

Mining firms and oil companies, which tend to rise on upbeat growth indications from China, posted gains in London after the data. Shares of Fresnillo PLC /zigman2/quotes/201300065/delayed UK:FRES +2.11%  added 2.8%, Vedanta Resources PLC  gained 2.2%, BHP Billiton PLC   /zigman2/quotes/208108397/composite BHP -0.92%   /zigman2/quotes/201448516/delayed AU:BHP -1.25%  rose 1.4% and Rio Tinto PLC /zigman2/quotes/208934945/delayed UK:RIO -0.41%   /zigman2/quotes/202627887/composite RIO -2.03%   /zigman2/quotes/200083756/delayed AU:RIO -0.84%  climbed 0.5%.

Discuss key earnings announcements before and after results come in. Learn more

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Separately, BHP said it expects global commodities demand to grow 75% over the next 15 years driven in part by continued urbanization in emerging economies. Metals prices were mostly higher.

Kazakhmys PLC /zigman2/quotes/208098927/delayed UK:KAZ +0.22%  rose 5.4% after the miner said ore extraction rates rose 6% in the first nine months of the year.

Among oil firms, shares of Royal Dutch Shell PLC /zigman2/quotes/204253697/delayed UK:RDSB +0.14%   /zigman2/quotes/207682964/composite RDS.B -1.52%  added 0.8% and BG Group PLC put on 0.7%.

Among other notable movers in London, shares of Shire  jumped 9.3% after the pharmaceutical firm raised its 2013 guidance as it reported a 22% rise in net profit.

Aberdeen Asset Management PLC rallied 5.8% after the investment firm confirmed it is in discussions with Lloyds Banking Group PLC /zigman2/quotes/202285510/delayed UK:LLOY -1.82% /zigman2/quotes/200709414/composite LYG -4.31% regarding a possible acquisition of Scottish Widows Investment Partnership. Shares of Lloyds rose 2.8%.

Rolls-Royce Holdings PLC  gained 2.6% after signing an oil-rig-equipment contract worth around 22 million pounds ($35.6 million).

Shares of WPP PLC /zigman2/quotes/202300097/delayed UK:WPP -0.13%  gained 0.9% after the advertising giant posted better-than-expected organic revenue growth in the third quarter.

On a more downbeat note in London, shares of Sports Direct International PLC dropped 3.8% after Mike Ashley sold £106 million worth of shares in the company he founded 30 years ago. The sold stake represents 2.7% of the issued share capital of the retailer.

Outside the main index in London, Debenhams PLC  slid 8.8% after the retail chain reported a 2.7% drop in full-year pretax profit and said conditions had been “very difficult” through the year.

Ophir Energy PLC  surged 9.1% after the oil and gas explorer said it may sell part of its interest in three gas fields in Tanzania.

 

/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,334.07
-28.86 -0.45%
Volume: 206,518
Nov. 27, 2020 11:02a
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
1,111.50 p
+23.00 +2.11%
Volume: 503,190
Nov. 27, 2020 11:01a
P/E Ratio
51.99
Dividend Yield
1.02%
Market Cap
£8.01 billion
Rev. per Employee
N/A
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/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 57.32
-0.53 -0.92%
Volume: 1.66M
Nov. 25, 2020 7:00p
P/E Ratio
18.27
Dividend Yield
4.19%
Market Cap
$135.05 billion
Rev. per Employee
N/A
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.72
-0.49 -1.25%
Volume: 4.92M
Nov. 27, 2020 4:10p
P/E Ratio
16.61
Dividend Yield
4.52%
Market Cap
$183.73 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208934945/delayed
UK : U.K.: London
4,881.50 p
-20.00 -0.41%
Volume: 548,420
Nov. 27, 2020 11:02a
P/E Ratio
13.95
Dividend Yield
6.09%
Market Cap
£82.49 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 66.28
-1.37 -2.03%
Volume: 2.92M
Nov. 25, 2020 7:00p
P/E Ratio
14.99
Dividend Yield
5.82%
Market Cap
$110.38 billion
Rev. per Employee
$852,406
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 102.00
-0.86 -0.84%
Volume: 1.11M
Nov. 27, 2020 4:10p
P/E Ratio
15.54
Dividend Yield
5.55%
Market Cap
$150.17 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/208098927/delayed
UK : U.K.: London
639.40 p
+1.40 +0.22%
Volume: 160,934
Nov. 27, 2020 10:58a
P/E Ratio
7.33
Dividend Yield
1.40%
Market Cap
£2.97 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204253697/delayed
UK : U.K.: London
£ 1,300.60
+1.80 +0.14%
Volume: 1.86M
Nov. 27, 2020 11:02a
P/E Ratio
N/A
Dividend Yield
0.04%
Market Cap
£103.31 billion
Rev. per Employee
£3.21M
loading...
/zigman2/quotes/207682964/composite
US : U.S.: NYSE
$ 34.89
-0.54 -1.52%
Volume: 5.16M
Nov. 25, 2020 7:00p
P/E Ratio
N/A
Dividend Yield
5.48%
Market Cap
$138.24 billion
Rev. per Employee
$4.11M
loading...
/zigman2/quotes/202285510/delayed
UK : U.K.: London
36.64 p
-0.68 -1.82%
Volume: 47.38M
Nov. 27, 2020 11:02a
P/E Ratio
89.37
Dividend Yield
0.00%
Market Cap
£26.99 billion
Rev. per Employee
£635,594
loading...
/zigman2/quotes/200709414/composite
US : U.S.: NYSE
$ 2.00
-0.09 -4.31%
Volume: 6.14M
Nov. 25, 2020 7:00p
P/E Ratio
98.04
Dividend Yield
2.78%
Market Cap
$36.12 billion
Rev. per Employee
$810,852
loading...
/zigman2/quotes/202300097/delayed
UK : U.K.: London
741.40 p
-1.00 -0.13%
Volume: 478,688
Nov. 27, 2020 11:02a
P/E Ratio
N/A
Dividend Yield
1.35%
Market Cap
£8.66 billion
Rev. per Employee
N/A
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Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

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