(Sharecast News) – London’s FTSE 100 was up 0.8% at 7,734.35 in afternoon trade on Friday.
Encouraging Chinese data was helping to boost luxury fashion brand Burberry and mining stocks – Rio Tinto and Anglo American – all of which are reliant to a degree on Chinese demand.
Figures released earlier by the Bureau of National Statistics showed that China’s retail sales and industrial production grew more than expected in August.
Retail sales were up 4.6% on the year, beating expectations for growth of 3% and coming in ahead of July’s 2.5% increase. Meanwhile, industrial production rose 4.5% in August on the year following 3.7% growth in July, coming in ahead of expectations of 3.9% growth.
Elsewhere, Flutter Entertainment was on the rise again, having gained a day earlier after HSBC upped its price target on the shares to 18,100p from 17,900p. The bank, which retained its ‘buy’ recommendation, said it does not think the valuation reflects the underlying pace of growth.
FTSE 100 – Risers
Burberry Group (BRBY) 2,174.00p 2.94%
Flutter Entertainment (CDI) (FLTR) 15,010.00p 2.77%
Endeavour Mining (EDV) 1,621.00p 2.53%
Rio Tinto (RIO) 5,326.00p 2.01%
Anglo American (AAL) 2,307.50p 1.99%
Barratt Developments (BDEV) 459.60p 1.91%
3i Group (III) 2,086.00p 1.91%
Kingfisher (KGF) 236.40p 1.90%
Airtel Africa (AAF) 128.60p 1.82%
GSK (GSK) 1,514.00p 1.80%
FTSE 100 – Fallers
BT Group (BT.A) 117.40p -1.14%
Land Securities Group (LAND) 595.40p -0.83%
Sage Group (SGE) 1,031.50p -0.72%
JD Sports Fashion (JD.) 139.80p -0.60%
Imperial Brands (IMB) 1,760.00p -0.59%
NATWEST GROUP (NWG) 236.10p -0.38%
Unite Group (UTG) 925.50p -0.32%
M&G (MNG) 203.30p -0.29%
SEGRO (SGRO) 747.20p -0.29%
Schroders (SDR) 412.60p -0.29%