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.
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.