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

Published 09/28/2020, 03:24 PM
Updated 09/28/2020, 03:30 PM
UK100
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HSBA
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DGE
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2318
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FTMC
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FTNMX451010
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601318
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(For a live blog on European stocks, type LIVE/ in an Eikon
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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%. The 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. The 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. The 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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