China-opened miners, banks push UK’s FTSE 100 higher | Daily News Byte

Dec 28 (Reuters) – The UK’s export-focused FTSE 100 advanced on Wednesday with gains in miners and banks, as top consumer China took additional steps to reopen the economy.

The blue-chip FTSE 100 rose 0.9%, while the mid-cap FTSE 250 added 0.3%.

Miners (.FTNMX551020) rose 1.8%, tracking copper prices that rose after China eased its COVID restrictions to reopen the economy. METL/

Asia-focused banks such as Prudential ( PRU.L ) and Standard Chartered ( STAN.L ) were also among the gainers by 0824 GMT.

China revised its quarantine rules for inbound travelers starting Monday, January 8, which have been largely closed since 2020, in a major step toward easing controls at its borders.

Meanwhile, according to Springboard, retail locations saw a nearly 40% increase in shoppers during the first Christmas in three years. Sector (.FTNMX404010) climbed 0.4%.

UK markets were closed on Monday and Tuesday for Boxing Day and Christmas Day respectively.

Reporting by Johan M Cherian in Bengaluru; Edited by Krishnachandra Eluri

Our Standards: The Thomson Reuters Trust Principles.