* Commodities up on China's industrial growth numbers
* Banks extend recent rally
* U.S. retail sales data awaited
By Jon Hopkins
LONDON, Dec 11 (Reuters) - Britain's top shares were 0.8
percent higher at midday on Friday, supported by strength in
heavyweight miners and oils after upbeat industrial data from
China, with investors' awaiting U.S retail sales numbers.
At 1156 GMT, the FTSE 100 <> was 42.22 points higher at
5,286.59, extending Thursday's gains when the index closed up
0.8 percent.
"The markets have bounced nicely off the 5,200 level and are
continuing their rise," said Angus Campbell, market strategist
at Capital Spreads.
"Really it's more of an emerging markets story than anything
else with the Chinese industrial production number coming in
stronger, and mining stocks really leading us higher."
Miners were the biggest blue chip gainers, after data from
top commodity consumer China showed a surge in industrial
output, underlining its economy's brisk recovery from the global
downturn. []
Metals prices rallied on the back of the data from China,
with Kazakhmys <KAZ.L>, Lonmin <LMI.L>, Vedanta Resources
<VED.L>, Xstrata <XTA.L>, Antofagasta <ANTO.L>, Fresnillo
<FRES.L> and BHP Billiton <BLT.L> up 2.5 to 4.0 percent.
China's solid industrial growth also fuelled strength in
crude oil prices <CLc1>, which rose above $71 a barrel, helping
energy companies BP <BP.L>, Royal Dutch Shell <RDSa.L>, Cairn
Energy <CNE.L> and Tullow Oil <TLW.L> add 0.7 to 0.9 percent.
Meanwhile, a consortium led by Shell has won a deal to
develop Iraq's supergiant Majnoon oilfield, an Iraqi oil
official said. []
Banks were higher as a sector, with most extending gains
from the previous session, led by Standard Chartered <STAN.L>,
up 1.5 percent, while Barclays <BARC.L> and Royal Bank of
Scotland <RBS.L> gained 0.5 and 0.6 percent, respectively.
But HSBC <HSBA.L> and Lloyds Banking Group <LLOY.L> missed
out, losing 0.8 and 0.3 percent, respectively.
BROKER COMMENT HELPS
Among individual FTSE 100 gainers, Burberry <BRBY.L> added
2.3 percent after Barclays Capital initiated coverage of the
luxury goods company with an 'equal-weight' recommendation and a
price target of 600 pence.
A bullish note from Cazenove helped tour operators Thomas
Cook <TCG.L> and TUI Travel <TT.L> gain 2.4 percent and 2.2
percent, respectively.
Recent broker comment also continued to support media issues
WPP Group <WPP.L> and BSkyB <BSY.L>, as well as property firm
Segro <SGRO.L>, which were up 2.6 to 3.1 percent.
Fixed line telecom was the main sector under pressure among
the blue chips, with Cable & Wireless <CW.L> and BT Group <BT.L>
down 0.1 and 0.5 percent, respectively, after a recent good run.
Cadbury <CADB.L> was also weak, losing 0.3 percent ahead of
a trading update, due on Monday, which will act as its defence
document against Kraft Foods' <KFT.N> hostile takeover bid for
the British confectionery firm.
Input costs for British manufacturers rose at their fastest
annual pace in a year in November due to a rebound in crude oil
prices after last year's falls, official data showed on Friday.
[]
Data from across the Atlantic will be key this afternoon,
with U.S. retail sales data for November due at 1330 GMT, with
investors looking for any sign consumers are starting to spend
again and give the fragile economic recovery a much needed lift.
After that the first reading of the Reuters/University of
Michigan consumer sentiment survey for December, due at 1455 GMT
will also attract attention.
U.S. stock index futures <DJc2>, <SPc2>, <NDc2> pointed to
opening gains on Wall Street ahead of the data, extending
Thursday's advance after reassuring trade numbers.
(Editing by Rupert Winchester)
