Chinese data drives miners higher

In mid-morning trading the FTSE 100 is up 27 points at 6294 as traders take time to digest China’s figures. 

Chinese flag on a boat
Source: Bloomberg

In London the equity market is eerily quiet. The numbers out overnight from China were good and bad at the same time, and the growth figures exceeded estimates but also confirmed the Chinese economy is cooling off. Mining stocks have been under severe pressure lately as traders were preparing themselves for soft figures from China, and now that their suspicions have been vindicated it is a non-event.

ASOS has finally made a positive announcement; full-year profits were higher than expected, even though the end-of-year target was revised lower three times in the last seven months. 

ARM Holdings has given up its early gains. The chip designer reported a double-digit increase in revenue and the royalty stream came in higher than estimated.

Despite a healthy jump in revenue per room with all regions of the company pulling their weight, shares in InterContinental Hotels slipped into the red.

High-street bookie William Hill announced a 13% jump in first-half profits; the online gaming division is performing particularly well. 

In the US, we are expecting the Dow Jones to open five points higher at 16,404.

IBM which is now the third-largest Dow component is down 1.5% in pre-market trading, while Apple is extending its gains from last night’s stellar set of numbers. 

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by analysts

Een artikel zoeken

Form has failed to submit. Please contact IG directly.

  • Ik wens per e-mail informatie van IG Group bedrijven te ontvangen over handelsideeën en IG's producten en diensten.

Voor meer informatie over hoe wij uw gegevens mogelijk kunnen gebruiken, bekijkt u ons Privacy- en toegangsbeleid en onze privacy website.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.