The FTSE 100 Index was on the front foot once more today as better-than-expected data from China and the US calmed investor nerves after a volatile week.
The FTSE 100 Index closed 35.5 points higher at 6,263.9, having sunk more than 60 points yesterday in the wake of European Central Bank president Mario Draghi’s pessimistic outlook for the eurozone.
Mining stocks were a big factor in London’s improved performance, with Anglo American up 35.5p to 1,972.5p and Eurasian Natural Resources ahead 6.7p to 377.7p after further signs of a rebound in China’s export growth.
Banking stocks were among those on the risers board as they recouped Thursday’s losses.
Asian-facing Standard Chartered rose 44p to £16.94, HSBC lifted 16.3p to 716.75p and Royal Bank of Scotland added 6.2p to 339.1p. Barclays, which is due to present annual results on Tuesday, was 6.1p higher at 298.6p.
Severn Trent was 29p lower at £15.89 however after the water company disclosed that it had sold its laboratories arm to ALS of Australia for an undisclosed price.
The biggest FTSE 100 risers were GKN up 9.6p to 255.5p, International Airlines Group ahead 7.3p to 218.5p and Old Mutual 6.1p higher at 192p.
Among the biggest FTSE 100 fallers were Imperial Tobacco off 47p at £23, Randgold Resources off 120p to £60 and Schroders down 25p to £19.74.
Barry Shepherd, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that risers included Wood Group, which gained 0.7% to 818p, while EnQuest added 1.1% to 132.5p.
Fallers included BG Group, which shed 0.5% to 1,105.5p, and FirstGroup finished 1.3% lower at 192.65p.