British FTSE 100 closes higher on China’s policy

London, Sep 9 (IANS) FTSE 100 Index, the British benchmark stock market gauge on Wednesday increased by 1.35 percent, or 82.91 points, to 6229.01 points, as China announced fresh policy measures that cheered up the market sentiment.

China’s ministry of finance on Tuesday night announced multiple fiscal policies aimed at stabilising growth, such as coordinating funds to accelerate project construction, activate idle money and widening tax breaks.

Most sectors of London market closed higher, with Industrial Metals & Mining, Mining, and Banks led the gainers, Xinhua reported.

Financial services provider Hargreaves Lansdown led the top gainer of London blue chip with a gain of seven percent.

Anglo American, Glencore, BHP Billiton and Morrison (WM) Supermarkets increased by 5.54 percent, 4.80 percent, 3.68 percent and 3.47 percent, respectively.

GlaxoSmithKline’s share price dropped by 1.24 percent topped the losers of the blue chips.

Share prices of Mondi, Randgold Resources, ARM Holdings and easyJet declined by 1.01 percent, 0.91 percent, 0.73 percent and 0. 72 percent, respectively.

Trading volume in FTSE 100 companies was around 10 percent smaller than the 30 day average. And the index has lost 2.01 percent so far this year.

The broader FTSE All-Share Index gained 1.25 percent on Wednesday.

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