BUSINESS LIVE: Fears of 3,000 job losses at Port Talbot’s Tata steelworks

The FTSE 100 is trading sharply higher again this morning, driven by miners after better-than-expected economic data from China, while prospects that global central banks are nearing the end of their monetary tightening cycle further boost risk sentiment.

As metal prices rise, miners are up 0.9 percent after data from the biggest consumer, China, was released.

Data shows factory output and retail sales in China grew faster in August, but falling investment in the crisis-hit real estate sector threatens to undermine a wave of stimulus measures that are showing signs of stabilizing parts of the shaky economy.

Investors are expected to keep a close eye on interest rate decisions from the US Federal Reserve and the Bank of England next week, with the European Central Bank raising its key interest rate to a record high of 4 percent on Thursday but signaling that it will last raise probably his last.

Boot maker Dr Martens plans to launch a shoe repair service in Britain next month as it looks to improve its sustainability credentials, encourage customers to extend the life of their boots and create a new revenue stream.

The London-listed company’s CEO Kenny Wilson told Reuters the service was currently being tested with employees and the UK launch would act as a pilot, with the potential to be rolled out to continental Europe.

Even if the repair service displaces some of the demand as people choose to repair their boots rather than buy a new pair, Wilson said the service would benefit the brand overall.

Fears are growing that thousands of jobs will be lost at Tata’s giant factory in Port Talbot, despite a £500m government bailout, as the Indian steel conglomerate pursues Net Zero.

Reports suggest the deal will see Indian parent Tata Group pump £700 million into the company as it moves to more environmentally friendly forms of steel production.