FTSE 100 up 0.7, FTSE 250 adds 0.2
Airlines slip on pricefixing fears in Italy
FTSE 100 beholds golden cross

Dec 28 Reuters UK39;s exportfocused FTSE 100 advanced on Wednesday, led by banks and miners, as top metals39; consumer China took additional measures to reopen the economy.

The largecap FTSE 100 rose 0.7, while the midcap FTSE 250 added 0.2, as of 0941 GMT.

Miners climbed 1.2, tracking copper prices that rose after China dismantled its COVID curbs to reopen the economy. 

Among individual stocks, Chinafocused insurers and banks such as Prudential and Standard Chartered also rose, gaining 2.9 and 0.8, respectively.

China scrapped its quarantine rules for inbound travellers starting from Jan. 8 on Monday, but global markets turned jittery as COVID cases rose in the world39;s secondlargest economy.

The most important part is how China will react to the rise in cases, said Ipek Ozkardeskaya, senior market analyst at Swissquote bank.

If the cases don39;t rise to the point that paralyses economic activity, then it is not going to be a big problem for market sentiment.

On the bluechip FTSE, the 200day and 50day moving average indicators intersected for the first time since July, referred to as the golden cross, and depicts bullish momentum in markets. The index is up 1.9 yeartodate.

The golden cross indicates that we are in a positive trend that is getting stronger because of the rising commodity and energy prices, and the trend could continue in the first…