Glencore, Anglo American and Antofagasta share price: FTSE Mining shares bounce on steady copper prices

 
Jessica Morris
Follow Jessica
TO GO WITH AFP STORY A worker negociates
Copper prices stabilised today (Source: Getty)

Mining shares jumped today, tracking copper prices which steadied just below four-month highs following good news out of top consumer China.

Copper prices were up 1.6 per cent to $4,970 per metric tonne on the London Metal Exchange in mid-afternoon trading.

They were buoyed by assurances from an important securities regulator that top Copper consumer China will not reintroduce a circuit breaker mechanism to its stock market in the next few years cheered investors, as well as bright spots in generally weaker Chinese data.

This helped Glencore swell 4.7 per cent to 148.30p per share, while Anglo American added 4.6 per cent to 539.2p and Antofagasta rose 1.5 per cent to 532p.

Meanwhile, Fresnillo slumped 0.4 per cent to 926p as gold lost some of its recent gains.

"UK miners are taking advantage of the global improvement in risk sentiment to extend gains, while Fresnillo is slightly lower on cheapening gold," Ipek Ozkardeskaya, market analyst at London Capital Group, said.

Related articles