Xstrata leads UK FTSE up as it backs Glencore bid

LONDON, Oct 1 (Reuters) - Britain's blue-chip index was fractionally higher early on Monday, led by miner Xstrata

after it gave its long-awaited blessing to trader Glencore's bid.

Shares in Xstrata gained 1.6 percent as its board backed Glencore's bid after wrestling for three weeks to reconcile opposing demands from shareholders over the deal terms.

The FTSE was up 12.82 points, or 0.2 percent, at 0708 GMT, after falling 0.7 percent on Friday.

Capping sentiment was data offering more evidence China, the world's largest consumer of commodities, was enduring a seventh straight quarter of slowing growth on Monday.

(Reporting By Francesco Canepa; editing by Simon Jessop)


ers Messaging: francesco.canepa.thomsonreuters.com@reuters.net))