UK miners bounce back on softer dollar

The lower-than-expected Chinese GDP data, which showed a 6.3% growth year-on-year, while 7.1% was expected, fuelled concerns about demand for commodities and weighed on miners yesterday. The FTSE 100 dropped 0.4%.

However, miners bounced back today on the lower dollar, pushing the FTSE 100 up 0.2% at 9;30 am. Among stocks, Ocado soared 13% after it reiterated its full-year guidance and returned to underlying profit in its first half.

AstraZeneca rose 0.7% after the U.S. Food and Drug Administration gave the green light for its RSV antibody therapy developed with Sanofi.

Meanwhile, Money transfer firm Wise gained 3.5% after posting a rise in revenues in its first fiscal quarter and reiterating its full-year guidance.

Things to read today:

The looming financial crisis at UK universities (Financial Times)

Being a Financial Influencer Is Fun — Until You’re Fined! (Bloomberg)

The Nasdaq Is Ignoring the Fed. It Shouldn’t Do That.(Barron's)