Shares up despite weak data and lower oil

London Stock ExchangeMon close: Shares kicked off the week in positive territory as mining stocks bucked weak Chinese data and a decline in oil prices.

China’s industrial output growth slowed to 5.4% year-on-year between January and February and retail sales growth also cooled.

Oil prices fell even as OPEC eased global concerns by reporting a slip in crude production. Iran confirmed plans to turn on the taps, leading to a 3% drop in Brent crude to $39.21 per barrel, with West Texas Intermediate sliding 4.4% to $36.86 per barrel.

Anglo American and Glencore were among the risers in the mining index.

Insurers including Aviva and Admiral were the biggest fallers ahead of the UK Budget when the Chancellor is expected to reveal another increase in insurance premium tax.

The FTSE 100 closed up 34.8 points at 6,174.6.


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