RIO 0.11% $129.24 rio tinto limited

News: RIO UPDATE 1-FTSE 100 recovers as China data aids; Plus500 nosedives

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    • FTSE 100 up 0.5 pct
    • FTSE 250 up 0.2 pct
    • Financials, miners boost main index
    • Plus500 slumps as revenue slides, dragging peers lower
    • Pets At Home skids after CPPIB sells stake

    (Adds news items, updates share prices)

    April 12 (Reuters) - Gains in Asia-exposed financial stocks and miners after some promising data from China led Britain's FTSE 100 higher on Friday, while a plunge in revenue took down mid-cap online trading platform Plus500 and its peers.

    The FTSE 100 .FTSE was up 0.5 percent and the FTSE 250 .FTMC rose 0.2 percent by 0904 GMT to cling to a six-month high hit in the previous session. But trading remained muted before the start of the U.S. corporate earnings season.

    Plus500 PLUSP.L slumped more than 25 percent and hit its lowest level in almost two years after its quarterly revenue plummeted to below a fifth of a year earlier. It took a hit from less market volatility creating fewer trading opportunities and new rules affecting retail clients.

    Its mid-cap peer IG Group IGG.L dropped 2.5 percent and CMC Markets CMCX.L gave up 5.8 percent.

    Trading remained light as investors reflected on a week that saw Britain secure a second Brexit delay and they awaited financial reports from U.S. bellwethers JP Morgan JPM.N and Wells Fargo WFC.N , in light of re-emerging fears of a global economic slowdown.

    Expectations for the U.S. earnings season were low, said CMC Markets analyst Michael Hewson. "The global economic outlook continues to look a little on the soft side, even without this week's IMF growth downgrades," he said.

    China reported a mixed set of data on Friday, with March exports rising more than expected and imports declining more than expected.

    Miners Rio Tinto RIO.L and Glencore GLEN.L added more than 1 percent and were the biggest boosts to the main index as copper prices rebounded. Spreadex analyst Connor Campbell also attributed the rise to data showing China's iron ore imports rose in March after touching a 10-month low in February.

    Separately, data from China's central bank showed that new loans and total lending surged in March, suggesting months of policy loosening were starting to bear fruit. Asia-focussed heavyweight banks HSBC HSBA.L and Standard Chartered STAN.L were among the top boosts to the main index as a result.

    Among the few blue-chip stocks in the red was British American Tobacco BATS.L , which slid 1.5 percent and was on course for its sixth straight session of losses.

    Mid-cap Pets At Home PETSP.L tumbled 11.2 percent, on course for its biggest one-day loss since May 2018, after Canada Pension Plan Investment Board agreed to sell its holding in the company, almost 11 percent of the shares.

    ((  
    For related prices, Reuters users may click on - *  
    

    UK stock report FTSE index: 0#.FTS6

     techMARK 100 index:  .FTT1X		  FTSE future	  0#FFI:   
     Gilt future		0#FLG:		  Smallcap index:	 .FTSC   
     FTSE 250 index:	  .FTMC		   FTSE 350 index:	 .FTLC   
     Market digest:	   .AD.L		   Top 10 by vol:	  .AV.L   
     Top price gainer   .NG.L		   Top % gainer	  .PG.L   
     Top price loser	.NL.L		   Top % loser	   .PL.L   
     * For related news, click on - * 
    
     UK hot stock	  [HOT and GB]	 Wall Street:			 
     Gilts report:					 Euro bond report	
    

    Pan European stock report: Tokyo stock HK stock Sterling report: Dollar report:

    • For company prices, click on - * Company directory: UKEQ By sector: FTAX
     European Equities speed guide................  EUR/EQUITY   
    

    FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR ))

 
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$129.24
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