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FTSE 100 rises as miners rebound; JD Sports top gainer

© Reuters. FILE PHOTO: People walk through the lobby of the London Stock Exchange in London, Britain August 25, 2015. REUTERS/Suzanne Plunkett/File photo

(Reuters) – London’s gained on Friday, as mining stocks rose on easing concerns over Chinese property market, although weak retail sales data showed UK’s economy was still reeling from the impact of inflation and supply chain pressures.

The blue-chip FTSE 100 gained 0.1% at 0710 GMT, with mining stocks lifting the index after developer China Evergrande Group made an overdue bond payment easing some concern about a global financial markets fallout.

JD Sports Fashion Plc was the top gainer on the benchmark index, up 2.2%, after announcing its acquisition of Cosmos Sport S.A.

British retail sales dropped 0.2% in September, official figures showed, while consumer confidence fell for a third month in a row in October, adding to signs of weakness in the recovery from COVID-19.

The domestically focussed mid-cap index fell 0.1%, with travel stocks weighing on the index.

Money transfer company Wise Plc lost 4.3% after company announced that co-founder Taavet Hinrikus would sell about 1.1% of his Class A shares through an accelerated bookbuilding process.

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