MONDAY MARKET CLOSE: Miners buoyed by China trade data

Solid trade figures from China helped the Footsie break its losing streak yesterday as heavyweight mining stocks bounced.

The FTSE 100 Index was 26.27 points higher at 6,366.24, getting it off to a better start after shedding around 3 per cent last week.

David Madden, market analyst at IG, said: “Natural resource stocks have been hit hard recently, so impressive trade figures from China provided the perfect opportunity to pick up cheap mining stocks.”

Anglo American topped the blue-chip risers’ board with a gain of nearly 5 per cent. It rose 62.5p to 1,388p, while Randgold Resources lifted 184p to 4,381p and Rio Tinto climbed 125p to 3,090p.

Asian-focused bank HSBC was also showing signs of relief at the better-than-expected figures from China, up 2 per cent or 12.5p at 632.8p.

Among the fallers on the top-flight, chip designer Arm Holdings was down 2 per cent or 20.5p to 822p after big losses for the tech-laden Nasdaq index on Wall Street on Friday.

Supermarket giant Tesco was back under pressure, leading the fallers’ board with a decline of nearly 3 per cent or 4.6p to 180.6p. It came as brokers at Cantor Fitzgerald highlighted the potential disruption to Christmas trading caused by the inquiry into the grocer’s profits over-statement.

The biggest gain in the FTSE 250 Index came from Synergy Health after the UK-based firm agreed a takeover offer worth £1.2 billion from US-based rival Steris. Shares surged 31 per cent, up 440p to 1,840p.

But chocolate maker Thorntons saw its stock fall to a 12-month low after it said sales through commercial channels fell 12.8 per cent to £20.8 million in the 14 weeks to October 4. It blamed the timing of orders from supermarket customers but with retail stores also quieter the company’s shares slid 4 per cent or 4p to 95p.