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China news boosts UK risers
00:00, 09 August 2013
A larger than expected increase in Chinese idustrial production data for July to 9.7% has helped push the UK100 higher in early trade with gold and silver miners leading the risers. Randgold Resources, Fresnillo, Vedanta and Anglo American lead the gainers while UK supermarket leader Tesco is also getting a China inspired boost after signing a joint venture deal with local supermarket chain Vanguard, part of China Resources to operate hypermarkets, supermarkets and convenience stores in China, Hong Kong and Macau, which could give it access to sales of £10bn. On the downside insurers are under pressure with Standard Life, Legal and General and Old Mutual all lower.