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FTSE bounces back on robust Chinese data and mining rally

StockMarketWire.com

Upbeat Chinese trade data helped strengthen investor sentiment after a rough global sell-off.

The FTSE 100 gained 0.8% to 7,062 amid a rebound in commodity prices which boosted resource stocks.

Fresnillo jumped 3.6% to 869.6p and Randgold Resources climbed 3.5% to £59.08, thanks to a stronger gold price as investors sought traditional safe havens.

Brent crude oil was up 0.4% at $80.59 per barrel.

MID AND LARGE CAP RISERS AND FALLERS

Investment manager Man Group delivered a robust performance in its third quarter despite a bout of market volatility, helping the shares advance 1.4% to 147.4p.

Rival Ashmore rose 1.8% to 351.5p after benefitting from positive net inflows, which helped grow its assets under management.

Technical products group Diploma gained 1.7% to £12.58 on its acquisition of Actios for an undisclosed sum, broadening its reach across Europe.

Sportswear seller Sports Direct agreed to acquire the Frasers department store in Glasgow for £95m, pushing the stock 1.7% higher to 315.3p.

SMALL CAP RISERS AND FALLERS

Patisserie Valerie owner Patisserie, whose shares are currently suspended, revealed its finance director Chris Marsh had been arrested by police. Marsh had been suspended by the company amid accounting irregularities that have sent it to the brink of collapse.

Plastics developer Symphony Environmental Technologies forecast lower earnings following order delays in its key Middle East market, causing the stock to crash 21.1% to 7.6p.

Order delays were also a sore spot for technical plastics products supplier Carclo, down 5.1% at 81.6p, after announcing the delays meant it would fall short of half-year profit expectations.

Story provided by StockMarketWire.com