The FTSE is up 0.3% so far today

<p>The FTSE is up 0.3% so far today. Commodity stocks got a boost after official data revealed that the Chinese economy grew by 7.6% in […]</p>

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  • The FTSE is up 0.3% so far today.
  • Commodity stocks got a boost after official data revealed that the Chinese economy grew by 7.6% in the second quarter, meeting market expectations. This has been the slowest pace expansion since the first quarter of 2009 and the sixth consecutive quarter of slower growth for the country.
  • Benchmark indices in UK, France and Germany advanced and peripheral Europe experienced a pull-back after Moody’s downgraded Italy’s sovereign rating by two notches.
  • In the UK, Burberry was the biggest rising stock as it is sensitive to developments in the Chinese outlook. United Utilities, on the other hand, fell out of favour following downgrade.
  • No domestic data is scheduled to be released today, and all eyes will be on the University of Michigan consumer sentiment survey, to be released in the US at 2.55pm UK time.
See the City Index Economic Calendar and Companies Reporting Dates page for latest economic news and company events that are likely to impact the markets today.

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