29/05/2012 09:53:00

LONDON MARKETS: Miners Push FTSE Higher On China Stimulus

Related content
24 Apr - 
24 Apr - 
Form 8.3 - BG Group
23 Apr - 
Related debate
16 Mar - 
Poul Høi's indlæg er fyldt med antydninger og insínueri..
15 Mar - 
Poul Høi har mere "lort og propaganda" i dagens Berling..
15 Mar - 
Bokaj70. Kunne du ikke lige prøve at dokumentere dine p..

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

Related stock quotes

BP PLC $0.25 478.40 -1.2% Stock price decreasing
BHP Billiton PLC 1,569.62 2.5% Stock price increasing
Anglo American PLC Ord U.. 1,082.00 1.9% Stock price increasing
BG Group PLC ORD 10P 1,167.50 -0.8% Stock price decreasing
Tullow OIL PLC ORD 10P 423.78 1.4% Stock price increasing
RIO Tinto PLC ORD 10P 2,991.84 1.1% Stock price increasing
BP p.l.c. 43.46 -0.3% Stock price decreasing
Rio Tinto PLC 45.72 1.9% Stock price increasing
BHP Billiton Ltd 51.04 3.7% Stock price increasing
Vedanta Resources PLC Or.. 631.50 3.5% Stock price increasing
BHP Billiton PLC 47.75 3.0% Stock price increasing
BHP BLT FPO 32.05 0.0% Stock price unchanged
RIO Tinto FPO 57.79 0.0% Stock price unchanged
Wolseley PLC ORD 10 53/6.. 3,938.00 -1.2% Stock price decreasing
Anglo PLC 15.70 6.1% Stock price increasing

Buy and sell signals

  • Trend
  • Moneymachine

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.
26 April 2015 20:24:13
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20150423.1 - EUROWEB7 - 2015-04-26 21:24:13 - 2015-04-26 20:24:13 - 1000 - Website: OKAY