Good China data set helps miners to lift FTSE out of slump - London Report

BETTER than expected trade data from Chinese and fears over the fragile geopolitical situation yesterday helped to lift FTSE.

Britain’s benchmark blue-chip index closed 0.4 per cent higher at 6,366.24 points after falling earlier in the session as far as 6,294.64.

Seven out of the top 10 risers were mining companies. Anglo American rose 4.72 per cent to 1,388p, Rio Tinto was up 4.22 per cent to 3,090p and BHP Billiton increased 2.91 per cent to 1,660.50p.

Precious metal firms also benefited from the volatile geopolitical situation as investors sought safe havens. Mex­ico’s Fresnillo jumped 3.94 per cent to 778.50p while Randgold Res­ources closed up 4.38 per cent at £43.81.

Randgold was also boosted by UBS raising its recommendation from “neutral” to “buy”.7digital jumped 77.16 per cent to 35.88p after it confirmed reports it was in talks with Black Eyed Peas musician and The Voice judge Will.i.am about launching a music service for a new range of devices, including watches.

Related articles