UK shares shrug off weak Asia data

The FTSE 100 got off to a positive start on Monday, with shares shrugging off weak data from both China and Japan to move higher.

Markets in Asia suffered losses overnight, with the Nikkei closing down 1% and the Shanghai composite index falling 2.86% on renewed growth worries. A revision to the preliminary forecast for Japan's Q4 GDP growth saw it fall from 0.3% to 0.2%, missing analysts' estimates as slower growth and weak consumption dragged the figure down. Annualised growth dropped from 1% to 0.7%, again undershooting economists' forecasts the initial reading would be maintained. Meanwhile, in China, shares fell to a three-year low as woeful trade data emerged from the country. Over the weekend, data ...