China slashes quarantine time for inbound travellers
Basic resources, oil stocks lead gains
Third day of gains for FTSE 100
FTSE 100 up 0.9, FTSE 250 adds 0.1

June 28 Reuters UK39;s FTSE 100 index hit its highest level in more than two weeks on Tuesday, as commodity stocks led the gains after China39;s decision to ease some COVID19 curbs boosted sentiment globally.

China slashed the quarantine time for inbound travellers by half, in a major easing of one of the world39;s strictest COVID19 curbs. That sent global equities and commodity prices higher on Tuesday.

The bluechip index FTSE 100 climbed 0.9 to its highest since June 10, while the midcap FTSE 250 index edged up 0.1.

Industrial metals and mining stocks gained 2.7, while oil majors added 2.2, as metals and crude prices gained on hopes of a demand revival in the world39;s secondbiggest economy.

Anything that relies on the Chinese consumer to really give it a big boost seems to be doing pretty well today, AJ Bell analyst Danni Hewson said.

It does look like a lot of investors now have decided that they are going to buy the dip because it does appear like demand from China will now pick up.

The FTSE 100 has outperformed its global peers this year due to a large presence of commodity, healthcare, and consumer companies on the index, which have benefited from a surge in energy prices and global growth worries.

Oilfield services provider Petrofac Ltd gained 4.2 after saying its halfyear trading was in line…