By Sruthi Shankar and Khushi Singh
(Reuters) -British equities touched a one-week high on Wednesday, bolstered by China-exposed stocks following measures taken by the Chinese central bank to support the economy, while sterling rallied after a survey hinted at high-for-longer interest rates.
The exporter-heavy FTSE 100 ended 0.6% higher, while the domestically oriented FTSE 250 index added 0.9%.
Industrial metal miners rose 2.6% after China’s central bank announced a 50 basis points cut in the amount of cash that banks must hold as reserves from Feb. 5, in an attempt to shore up a fragile economic recovery.
Miners Antofagasta, Glencore and Anglo American climbed between 3% and 5.3%, leading gains on the FTSE 100.
“Today has seen prices edge higher on hopes that the new measures announced by China will provide an uplift on the demand side, although the fact that they are due to arrive just before Chinese New Year could mean that…
