FTSE 100 rises as investors shrug off poor Chinese economic data

Headlines from the Proactive UK newsroom.

The FTSE 100 rebounded 83 points to 5,825 as investors shrugged off more poor Chinese economic data and focused on corporate news.

() is said to have started talks to sell off a stake in its broadband infrastructure arm Openreach to institutional investors. Over the past three weeks, BT has held meetings with Australian bank Macquarie and several sovereign wealth funds – according to the FT.

Royal Mail () meanwhile announced the departure of chief executive Rico Back after less than two years in the job. Bonuses to executive directors have also been axed, though staff at work since March will receive £200 cash.

Engineer () will not pay a final dividend for last year after shareholders unusually voted against the proposal. Majority shareholder Bain Capital said now isn’t the time to be paying a dividend.

() is proposing a share placing to raise £200mln to snap up future acquisitions. The online fast-fashion retailer said “numerous opportunities” are “likely to emerge in the global fashion industry over the coming months”.

Keywords Studios (), is having similar thoughts and raised £100mln to buy up struggling rivals. It is a “unique opportunity” to continue its acquisition strategy, said the video game services specialist.

Ltd () has landed a key approval for the BKM copper project in Indonesia. The Governor of Central Kalimantan has recommended it proceeds into construction and development.

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