London markets moved higher in early trade after Chinese markets staged a late recovery that left them with only minor losses at the close after steep morning falls.

As China found its feet, London and its continental neighbours took heart to open with gains.

There was relief that the previous session’s sharp losses, sparked by a steep sell-off in Asia on worries about interbank liquidity problems there, looked to have run too far.

London’s miners, always sensitive to the outlook for growth in China, the sector’s main destination market, moved from the forefront of the selling to the vanguard of the advance.

Chilean copper miner Antofagasta led the sector, up 2.2 per cent at 830p. Anglo American was 1.9 per cent higher at £13.22, while Vedanta Resources was 2.4 per cent stronger at £10.50. Half of the top 10 biggest gainers on the leaderboard came from the sector.

Financial stocks were not far behind, as risk appetite picked up. Barclays was 1.9 per cent higher at 284.2p and Lloyds Banking Group was 1.7 per cent higher at 61.4p.

Rexam, the drinks can maker, was the biggest single faller after it said volumes in South America and Western Europe were “disappointing”. Its shares fell 4 per cent to 446.6p.

Overall, the FTSE 100 rose 0.8 per cent to 6,075.87, a rise of 47 points.

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