FTSE 100 gains on strong Chinese industrial profit data, HSBC boost

  • Reuters
  • Stock Market News
FTSE 100 gains on strong Chinese industrial profit data, HSBC boost
Credit: © Reuters.

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* FTSE 100 up 1.4%, FTSE 250 gains 0.9 %

Sept 28 (Reuters) - London's FTSE 100 rose on Monday as data showing solid industrial profits in China boosted commodity-linked stocks and Asia-focussed lender HSBC surged after its top shareholder raised its stake.

British lender HSBC Holdings HSBA.L surged 10.1% after Chinese insurance group Ping An 601318.SS 2318.HK , the biggest shareholder, boosted its stake to 8%. blue-chip FTSE 100 index .FTSE jumped 1.4%, with beverage makers .FTNMX3530 leading gains after Diageo DGE.L reported an improved half yearly outlook. mid-cap FTSE 250 index .FTMC gained 0.9%.

Profits at China's industrial firms grew for the fourth straight month in August, buoyed in part by a rebound in commodities prices and equipment manufacturing, the statistics bureau said on Sunday. British government is mulling tougher restrictions in England to tackle a swiftly accelerating second wave of the novel coronavirus outbreak, possibly outlawing more inter-household socialising, a junior health minister said.

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