/London Markets: London stocks boosted by commodity companies

London Markets: London stocks boosted by commodity companies


Reuters

A coal truck passes others inside coal giant Rio Tinto’s Hunter Valley operations.

Commodity producers lifted London-listed stocks on Friday, as economic data from both the U.S. and China were mostly stronger than forecast.

The FTSE 100

UKX, +0.56%

 rose 0.6% to 7291.86 with gainers including oil giant BP

BP, +1.24%

 and miner Rio Tinto

RIO, +2.62%.

Data from China showed the Caixin measure of manufacturing PMI at a 32-month high, and U.S. nonfarm payrolls grew a stronger-than-forecast 128,000.

While the ISM manufacturing index slightly missed forecasts, the index on new-export orders shot higher, and the series on new orders also increased.

The IHS Markit/CIPS U.K. manufacturing PMI meanwhile rose to a 6-month high in October, though at 49.6, it is still below a level at 50 that signals contraction. The U.K. numbers were helped by stock building and purchasing activity in advance to the October Brexit departure date that was subsequently postponed.

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