FTSE 100 rebounds after China stimulus

The FTSE 100 index moved back above 7,000 this morning after the Chinese central bank announced stimulus measures to prop up its economy.

The UK blue-chip index was up 0.9% by 9.30BST, buoyed by mining companies, with Anglo American, Rio Tinto and BHP Billiton all among the top risers. The mining stocks received support from stimulus measures announced in China over the weekend, as the world's largest metals consumer aims to manage the slowdown in its economy. China cut bank reserve requirements by one percentage point overnight, the largest such cut since November 2008. At 7,053, the FTSE index is once again above the 7,000 mark, after dropping below this level on Friday, though it remains below the peak of 7,097 se...