UK shares advance on improving Chinese economy

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Source: Dukascopy Bank SA
© scanpix/reuters
European shares advanced for the second consecutive day, driven by banks and mining sector companies, after China showed extended policy support for the nation's economic recovery. In addition, optimism was raised on hopes U.S. lawmakers will avert the looming fiscal cliff.The FTSE index advanced, despite the negative data on UK's Services PMI that showed the nation's service sector unexpectedly shrank in November. The FTSE was 0.18% up to 5,879.69 by 15:30 GMT. Six out of ten sectors within the index fell with Technology dropping the most by 2.05%, followed by Consumer Goods with 0.65% decrease and Health Care with a 0.36%. The sector that added the most was Basic Materials with a 2% increase. The best performers were Anglo American PLC showing its biggest gain in the FTSE, Eurasian Natural Resources and Vedanta resources by soaring 3.51%, 2.92% and 2.91%, subsequently. Meanwhile, Sage group, ARM Holdings and Kingfisher were among the worst performers with 3.89%, 1.64% and 1.35% losses.
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Wed, 05 Dec 2012 16:13:03 GMT

U.K. services PMI falls against economists' expectations

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Wed, 05 Dec 2012 17:28:37 GMT

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