29/05/2012 09:53:00

LONDON MARKETS: Miners Push FTSE Higher On China Stimulus

Related content

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- British stocks headed north on Tuesday, with miners and oil firms in the lead, as hopes for further stimulus measures in China spurred a risk-on mood, offsetting ongoing concerns about the euro-area crisis.

The FTSE 100 index jumped 0.8% to 5,402.36.

Miners advanced the most in the index, as growth indications from China lured investors into the metals sector. Metals prices were also higher across the board, while Asian stocks rallied. Reports on Monday said that the National Development and Reform Commission has approved several new steel plants, prompting some analysts to suggest the country has kicked off fresh stimulus measures.

Rio Tinto PLC (RIO) rose 2.4%, Vedanta Resources PLC added 2.3%, Anglo American PLC gained 1.8%, while BHP Billiton PLC (BHP) ticked 1.6% higher.

Oil firms were also on the rise, as oil prices moved up. Tullow Oil PLC rose 2.8% and BP PLC (BP) inched 0.3% higher. BG Group PLC took on 1.2% as it said is has agreed to sell its entire 60.1% stake in gas distributor Comgas for 3.4 billion Brazilian real in cash ($1.7 billion).

Bucking the positive trend in London, Wolseley PLC gave up 4.2% after highlighting weakness in the European market in its third-quarter results.

(END) Dow Jones Newswires

May 29, 2012 04:53 ET (08:53 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

Regulatory news

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

#

EuroInvestor: In Focus
#

#

EuroInvestor: In Focus
#

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
HFF closes $109 million sale of downtown Washington, D.C. office building
2
Sika AG: SWISS TAKEOVER BOARD CONFIRMS APPLICATION OF OPTING-OUT CLAUSE
3
Valmet has completed the acquisition of Process Automation Systems
4
Tesoro Logistics LP to Release First Quarter Earnings
5
Divestment of Metso's Process Automation Systems business to Valmet completed

Related stock quotes

BHP BLT FPO 30.21 -0.4% Stock price decreasing
RIO Tinto FPO 55.80 -1.1% Stock price decreasing
BG Group PLC ORD 10P 851.40 0.0% Stock price unchanged
BHP Billiton PLC 1,470.00 0.0% Stock price unchanged
RIO Tinto PLC ORD 10P 2,768.47 0.0% Stock price unchanged
Tullow OIL PLC ORD 10P 283.90 0.0% Stock price unchanged
Anglo American PLC Ord U.. 1,016.50 0.0% Stock price unchanged
BP PLC $0.25 442.10 0.0% Stock price unchanged
Vedanta Resources PLC Or.. 495.53 0.0% Stock price unchanged
Anglo PLC 14.45 0.0% Stock price unchanged
Wolseley PLC ORD 10 53/6.. 3,991.00 0.0% Stock price unchanged

Buy and sell signals

  • Trend
  • Moneymachine

Related companies
Get access to information and recommendations of related companies with our PLUS package.

You get access to 7 valuable investment tools.

Click here to read more about the PLUS package.

Copyright Euroinvestor A/S 2015   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
02 April 2015 05:21:50
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20150325.1 - EUROWEB7 - 2015-04-02 06:21:50 - 2015-04-02 05:21:50 - 1000 - Website: OKAY