Speculation that debt-laden property firm Evergrande has made a key interest payment ahead of a weekend deadline shored up market confidence today after London-listed miners fell sharply on Thursday.
The FTSE 100 index is moderately higher, although the underlying picture for the UK economy continues to cause concern after this morning's disappointing retail sales figures and the Gfk’s consumer confidence index that shows “all vital signs weakening”.
The uncertain picture adds to the pressure on Bank of England policymakers as they consider whether to hike interest rates next month amid a warning from its chief economist last night that inflation could get close to 5% early next year.