London’s blue-chip stocks made a positive start to the week despite a missed session in Asian markets overnight.
The big news overnight was China’s monthly manufacturing data, which revealed the world’s second-largest economy is still in growth mode, sending the Shanghai composite 2.9% higher.
Later today, the UK, Germany and US manufacturing data is all due out later today.
Meanwhile, Greece is set to pay 1.6bn euros to the International Monetary Fund this month, with Prime Minister Alexis Tsipras negotiations have stalled because of the demands made by its creditors.
Back in the UK, the FTSE 100 jumped almost 50 points to 7,032 in early deals.
Pharma giant AstraZeneca (LON:AZN) was leading the index after a rise in the healthcare sector. Shares rose 2.5% to 4,480p while Hikma Pharmaceuticals (LON:HIK) was also higher, 1.5% to 2,110p.
Away from pharmaceuticals, miners were propping up the index despite the better than expected Chinese manufacturing data.
Fresnillo (LON:FRES) sat at the bottom of the index, easing more than 1% to 750p.
Away from the FTSE 100, online gaming company Playtech (LON:PTEC) has made an offer to buy troubled CFD provider Plus500 (LON:PLUS).
Playtech shares fell 2.5% to 809p while Plus500’s rose 3.6% to 383p.
In broker news, storage specialist Big Yellow Group (LON:BYG) was given a boost by JP Morgan Cazenove. Shares climbed 1.8% to 664p.
Conversely, over 50’s insurance and holiday firm Saga (LON:SAGA) was downgraded by Numis. Shares eased 1.8% to 208p.
In small caps, Range Resources (LON:RRL) said production averaged 620 barrels of oil per day from its operations Trinidad during May. Shares climbed almost 5% to 0.5p.
Aureus Mining (LON:AUE) said the first gold has been poured on schedule at its New Liberty project. Shares jumped 4% to 30p this morning.
Meanwhile, Real Good Food (LON:RGD) has issued a bullish trading update following the sale of its wholesale sugar arm Napier Brown. Shares rocketed 9% on the update.
Even better still, Sunrise Resources (LON:SRES) said it has found bonanza grades of silver in underground samples at its Bay State project in Nevada. Shares advanced 36% to 0.28p making it the day’s big mover.
Meanwhile, lower oil prices hit Circle Oil's (LON:COP) revenues in 2014 - a year, which was one of transition, the group said. Shares eased 18% to 10.7p.
Gulf Keystone Petroleum (LON:GKP) is to hire Jón Ferrier as the company’s new chief executive. Shares eased 4% to 36p on the news.