UK and China data boost FTSE to 13-month high

Wed Nov 11, 2009 12:17pm GMT
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* Unemployment and claimant count better than expected

* Miners rally; metal prices up on Chinese data

* Sainsbury and International Power rise on firm results

By David Brett

LONDON, Nov 11 (Reuters) - Britain's FTSE 100 touched a 13-month high on Wednesday as miners led a broad-based rally, lifted by data showing a surge in China's factory output which pushed up metal prices.

By 1148 GMT the blue-chip index .FTSE was 61.38 points higher at 5291.93, just off a high of 5,300.28, a peak since late September 2008, touched earlier in the session. It closed 0.1 percent lower on Tuesday, ending a four-session winning run.

Data from China, where factory output jumped to a 19-month high in October, underpinned a mining sector rally.

Randgold Resources (RRS.L: Quote, Profile, Research) climbed 5.9 percent, bouncing back from a dip following Tuesday's announcement of lower-than-expected quarterly profit to an all-time high as the gold XAU= price rallied.  Continued...

 
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