UK Market Advances, Miners Climb

(RTTNews) - The UK market was in positive territory on Monday, amid speculation that the Fed may be looking for further improvement in the labor market before deciding on interest rates.

The Fed holds its two-day policy meeting on September 16 and 17 and investors are waiting to see whether the U.S. central bank will announce a rate increase despite the rising threat of deflation worldwide.

In economic news, Eurozone industrial production grew more-than-expected in July, marking its biggest gain in five months, provisional data from Eurostat showed. Production rose 0.6 percent month-on-month following a 0.3 percent slump in June, which was revised from 0.4 percent. Economists had expected a 0.3 percent gain.

China's industrial production increased at a slower-than-expected pace in August, while retail sales growth exceeded expectations, figures from the National Bureau of Statistics showed. In the January to August period, urban fixed asset investment gained 10.9 percent from the same period last year, which was slower than the expected growth of 11.2 percent.

The Euro Stoxx 50 index of eurozone bluechip stocks advanced 0.25 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, dropped 0.43 percent.

The FTSE 100 index added 0.38 percent.

Miners chose to ignore the data out of China. Fresnillo climbed 2.8 percent and Randgold Resources added 2.1 percent.

BHP Billiton and Rio Tinto added 2.7 percent each.

Bucking the trend, WM Morrison Supermarkets fell 3.2 percent. Barclays and Lloyds Banking were in negative territory.

Other markets in the region were also trading above the flat line.

The Asian stocks turned in a mixed performance as weak Chinese data and anxiety ahead of this week's FOMC meeting kept investors on edge.

In the U.S., futures point to a higher open on Wall Street. In the previous session, the Dow rose 0.6 percent, while the tech-heavy Nasdaq and the S&P 500 advanced half a percent each.

Crude for October delivery fell $0.06 to $44.57 per barrel, while December gold rose $2.9 to $1106.2 a troy ounce.