Afternoon Markets: Miners lead FTSE rebound after rocky day

Laura Miller
clock

The FTSE has bounced back from a mid-morning dip to end more than a percentage point higher, thanks to strong performances from miners.

London's 100 share index was 5,085.86 at around 5.15pm, up 1.15% or 57.71 points. Miners drove the FTSE higher as metal prices bounced on reports of an exports surge in China. Reuters reported China's exports in May were 50% higher than a year earlier, soaring past market expectations. The news helped boost demand for the likes of Fresnillo, up 4.63% to 982.5p, Kazakhmys, up 4.44% to 1106p, and Xstrata, up 3.98% to 961.7p per share. However, gold miner Randgold went the other way as the price of gold dips. Shares were down 0.74% to 6045.00p      

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read