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Oil stocks boost FTSE 100 as China data signals recovery
listed gives rose on Monday as data showing China’s manufacturing plant deflation slowed in September brewed optimism around a post-pandemic economic rebound, while strength stocks tracked a begin oil prices.
The commodity-heavy FTSE 100 was way up 0.4%, with BP Plc and Royal Nederlander Shell Plc the biggest increases as oil rose 1%.
The mid-cap FTSE 250 gained 0.5%, directed by industrial, consumer discretionary and financial stocks.
Fashion retailer Superdry jumped almost eight.6% after agreeing a brand new 70 million pound ($91.5 million) lending ability to get it through the coronavirus crisis.
Outsourcing group Household Plc rose 1.9% as it said it had become received an extension to the contract with Transport intended for London (TfL) from August 2021 to October 2026 for 355 million kilos ($464 million).