Stocks in the U.K. finished higher Tuesday, rising along with other global markets, as slowing growth in China raised hopes for further stimulus in the world’s second-largest economy.
The FTSE 100 gained 1.7% to end at 5,876.80. The British blue-chip index achieved its best showing since Dec. 23, according to FactSet data.
Shares of mining companies helped lead the way higher. Commodities producer and trader Glencore PLC jumped 5.1%, while platinum and iron ore miner Anglo American PLC closed 2.6% higher. Oil producer Royal Dutch Shell PLC bulked up by 2.4%.
China, a major buyer of commodities, posted fourth-quarter growth of 6.8%, the slowest rate of expansion since 2009. Full-year 2015 gross domestic product growth of 6.9% was the weakest pace of expansion in 25 years. Worries among investors about slowing in China’s economy and the health of its financial system have contributed to a selloff in equity markets worldwide this year.
via MarketWatch
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Alfonso Esparza
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