FTSE closes higher; miners shine after China data

Wed Nov 11, 2009 5:35pm GMT
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* FTSE ends up 0.7 pct; touches 13-month intraday high

* Miners rally; metals up on China data, weak dollar

* Sainsbury rises; H1 tops forecast

By Tricia Wright

LONDON, Nov 11 (Reuters) - Britain's top share index closed higher on Wednesday, as risk appetite received a boost after reassuring signals on the UK economy, and with miners the biggest gainers after a jump in Chinese factory growth.

The FTSE 100 index .FTSE ended 36.20 points higher, or 0.7 percent, at 5,266.75, having touched a high of 5,301.14 earlier in the session, a level not reached since September 2008.

"On the whole the market has reacted well to some quite optimistic comments from the Bank of England inflation report," said Angus Campbell, head of sales at Capital Spreads.

"They seem to think that a V-shaped recovery is very much underway and we won't dip back into recession," he said.  Continued...

 
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