UK edges higher as Chinese growth data rattles markets

UK shares are enjoying a positive session despite the latest growth wobble in China, after the country's finance minister revealed the economy is going to undershoot the 2013 growth target of 7.5%.

Overnight, Chinese finance minister Lou Jiwei, speaking at the US-China Strategic and Economic Dialogue in Washington, said the economy is likely to grow at 7% this year, down from the previous forecast. The news rattled Chinese investors, with the Shanghai Shenzhen CSI 300 index ending the session down 2.2%. However, despite the growth miss, markets across Europe were firmer today, with the FTSE 100 up by 24 points (0.38%) this morning at 6,566. New IPO data is helping cheer investors, after it emerged the UK's public markets have already raised more money this year than across th...