Miners got support from data showing growth in
"An upside surprise on Chinese GDP, alongside positive corporate newsflow, is helping the mining sector to outperform today,"
The market was also helped by a 9.6 percent surge in
The prospect of a bid led speculative sellers to close their short positions, or bets against the stock, traders said. The shares had fallen nearly 9 percent since late June.
"I don't think there will be a huge amount of people going long on the back of this, but people who were short would be scrambling to cover," said
Short sellers borrow a stock and sell it, expecting to buy it back at a lower price before returning it to the lender. Over the past month, they have targeted
On the economic front, the market showed little reaction to a report that
"The figures do not suggest any change in MPC thinking, as the rise in average wages was subdued,"