- FTSE 100 up 0.5%, FTSE 250 down 0.1%
Dec 9 (Reuters) - Britain's FTSE 100 climbed on Monday, boosted by energy and mining shares, as investors looked to this week's domestic GDP data to gauge the Bank of England's policy outlook.
The blue-chip FTSE 100 rose 0.5%, while the midcap FTSE 250 was down 0.1% after hitting a seven week high earlier in the session.
European stocks hovered around six-week highs after signs of fresh stimulus to support China's slowing economy.
Copper prices jumped to the highest in nearly a month after top metals consumer China said it would adopt a "moderately loose" monetary policy next year, alongside a more proactive fiscal policy to spur economic growth.
Shares of miners Glencore, Antofagasta and Rio Tinto jumped between 3.8% and 4.9%, helping mining to lead sectoral gains.
Energy stocks rose 2.9% as oil prices climbed by more than 1% after top importer China's policy shift.
The personal goods sector also added to the gains, advancing 3%, while aerospace and defence companies were a drag, falling 1.5%.
During the data-heavy week, the focus will be on the British gross domestic product estimate for October, which could provide insights on the Bank of England's interest rate trajectory.
Traders are pricing in a near 90% chance of the BoE holding interest rates at its next policy meeting on Dec. 19, while also expecting about 78-basis-point worth of rate cuts by the end of next year.
Demand for workers in Britain collapsed last month after the new Labour government's first budget, a survey showed, adding to other signs of the impact of the tax increases on employers.
Stateside, investors awaited key inflation data this week that could cement bets of a U.S. Federal Reserve rate cut in December.
Among individual stocks, BP and Japanese power generator JERA agreed to join forces to form one of the world's largest offshore wind operators, a major step in CEO Murray Auchincloss' efforts to reduce BP's focus on renewables. BP rose 4.3% to be a top FTSE 100 performer.
Whitbread slipped 2.6% after UBS cut the target price on the hotel group to 4,200p from 4,400p.
Britain's Domino's Pizza Group (DPG) reached a new five-year agreement with its franchise partners to expand its store network and increase investment in its digital platform. However, its shares fell 3.4%.
Reporting by Nikhil Sharma and Sukriti Gupta; Editing by Vijay Kishore
Source: Reuters