Miners lift FTSE 100 on China optimism

UK’s FTSE 100 opened higher on Monday, led by mining stocks after China rolled out new measures to prop up its stuttering economy, while London Stock Exchange Group (LSEG) rose on the back of plans for a blockchain-based digital assets business.

The exporter-heavy FTSE 100 index (.FTSE) gained 0.6% by 0703 GMT, while the mid-cap FTSE 250 index (.FTMC) was up 0.3%.

Industrial metal miners (.FTNMX551020) rose 1.8%, leading sectoral gains.

China stepped up measures on Friday to boost the country’s faltering economy, with top banks paving the way for further cuts in lending rates and sources saying Beijing plans further action including relaxing home-purchase restrictions.

Fidelity Special Values PLC (LON:FSV) aims to seek out underappreciated companies primarily listed in the UK and is an actively managed contrarian Investment Trust that thrives on volatility and uncertainty.

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