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

Alliance Trust PLC : Net Asset Value(s)

26/08/2016 15:36:16
ALLIANCE TRUST PLC                                    At the close of business on Thursday 25 August 2016: The Company's NAV per ordinary shar..

HSBC Bank Plc : Form 8.5 (EPT/RI) - London Stock Exchange Group Plc

26/08/2016 11:44:22
FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY ..

OZ Management LP : Form 8.3 - Home Retail Group Plc

26/08/2016 10:51:16
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week

Related stock quotes

BP PLC $0.25 433.96 0.5% Stock price increasing
BHP BLT FPO 20.88 -0.7% Stock price decreasing
Anglo American PLC ORD U.. 859.16 2.3% Stock price increasing
Rio Tinto PLC 31.54 -0.9% Stock price decreasing
BHP Billiton PLC ORD $0... 1,079.90 3.1% Stock price increasing
BHP Billiton Limited 32.09 -0.8% Stock price decreasing
BP p.l.c. 34.16 -0.2% Stock price decreasing
Tullow OIL PLC ORD 10P 231.64 1.8% Stock price increasing
RIO Tinto PLC ORD 10P 2,467.28 3.3% Stock price increasing
BHP Billiton PLC Sponsor.. 27.75 -0.4% Stock price decreasing
RIO Tinto FPO 48.82 -0.6% Stock price decreasing
Vedanta Resources PLC OR.. 526.57 0.6% Stock price increasing
Wolseley PLC ORD 10 53/6.. 4,329.61 0.8% Stock price increasing
Anglo PLC 10.55 -2.3% Stock price decreasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2016   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.
 
28 August 2016 13:01:44
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20160826.1 - EUROWEB7 - 2016-08-28 14:01:44 - 2016-08-28 13:01:44 - 1000 - Website: OKAY