FTSE Close: Lacklustre China data weighs on UK blue chips

The FTSE 100 fell on Monday as weaker-than-expected industrial profit data from China dragged down Asia-exposed stocks.

The blue chip index declined 27.50 points, or 0.4%, to 7,460.70. Mining giant Rio Tinto shed 0.4% while Asia-focused lender HSBC lost 0.3%. The falls came after Chinese industrial profits grew just 2.7% year-on-year in October, marking a sharp slowdown from 12% growth in September.

Oil majors BP and Shell also declined, tracking weaker crude prices amid demand concerns stemming from China.

Rightmove shares surged over 6% as property portal sets sights on £600m revenue and £420m profit in bullish 2028 targets.

However, the more domestically-focused FTSE 250 index edged higher, buoyed by a 3.7% surge in Shaftesbury Capital. The property group said it saw an “excellent” start to the Christmas trading period, with leasing activity running ahead of expectations.

Among smaller companies, oil services firm Petrofac extended its losing streak to a sixth session as it continued to be hurt by falling crude prices. Music retailer MusicMagpie plunged 16% after receiving no takeover bids from BT Group or Aurelius.