Morning Markets: Positive Chinese data boosts FTSE

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The FTSE 100 opened higher, up 0.25% or 12.95 points to 5,238.17, supported by encouraging economic data coming out of China this morning.

China's official purchasing managers' index rose to 51.7 in August from a 17-month low of 51.2 in July, causing an improvement in commodity prices and overall sentiment. Silver miner Fresnillo is the biggest riser, up 3.85% to £11.32, followed by TUI Travel, which advanced 3.33% to 208p and InterContinental Hotels Group, rising 1.78% to 999.5p. Early morning casualties include ARM Holdings, down 1.58% to 361p and British Airways, dropping 1.09% to 208.7p. On Wall Street, US stocks slumped to their worst August in nine years, as investors retreated on fears for the US economy. ...

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