Markets mixed on China rate rise fears

London’s leading share index edged up this morning while other global markets were cautious on fears China will hike interest rates to stem soaring inflation.

Figures from China reveal the country's inflation rose to the highest level in almost three years, despite the government's attempts to curb it.

The FTSE 100 index was up 0.26% at 5,979.17 by 9am, with Man Group leading the charge up 1.5%.

Prudential, down 0.74%, is one of this morning's biggest losers.

In Europe, Germany's Dax was up 0.30% at 7,168.14, while France's Cac 40 was down 0.08% at 3,967.39.

Meanwhile in Asia, Japanese shares fell on fears of further tightening in China, with the Nikkei 225 index closing down 0.7% at 9,591.52.

In the US, the Dow Jones closed up 14.16 points, or 0.1%, to 12,285.15.