How Miners Triggered Remarkable FTSE 100 Growth amid China's Stimulus Hopes

UK's FTSE 100 advanced on Monday as mining stocks rose after China announced new measures to support its economy. The London Stock Exchange Group (LSEG) also saw an increase in its shares following reports of plans for a blockchain-based digital assets business.

The exporter-heavy FTSE 100 index gained 0.6%, while the mid-cap FTSE 250 index was up 0.4%.

Asian stocks also rallied as China implemented measures to boost its economy, including potential cuts in lending rates by top banks.

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Industrial metal miners climbed 1.7%, driven by higher metal prices resulting from China's economic measures.

"It's probably helping to give the markets a decent one-day boost. The bigger test will be whether or not that translates into a boost over the course of the rest of the week," said Michael Hewson, chief market analyst at CMC Markets UK.

UK shares have underperformed compared to other European peers due to the heavy presence of commodity-linked stocks that have been affected by China's slow recovery and the Bank of England's firm stance on inflation.

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LSEG shares rose 0.5% after it was reported by the Financial Times that the company is considering a blockchain-based digital markets business.

Shares of Wood Group and Harbour Energy increased by 1.5% and 1.3%, respectively, following the announcement of a $330 million agreement between the two companies.

"This is a good deal for Harbour Energy as it helps keep their costs down in the long term, provided they are able to share the maintenance costs of the North Sea operations," added Michael Hewson of CMC Markets UK.

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CMC Markets shares reversed course to slip 0.7% after announcing the appointment of Albert Soleiman as its CFO.

In other stock news, Hammerson rose 2.7% following an upgrade by Morgan Stanley.