Min­ers lift Foot­sie into pos­i­tive ter­ri­tory

Western Morning News - - Shares -

The FTSE 100 ended in pos­i­tive ter­ri­tory yes­ter­day, buoyed by min­ing and com­modi­ties stocks.

Lon­don’s top flight closed the day up 34.43 points, or 0.49%, at 7,038.95, with the likes of Antofa­gasta, An­glo Amer­i­can and Fres­nillo lead­ing the charge.

A strong per­for­mance from Wall Street overnight also helped boost the in­dex, as well as a bounce back in oil prices.

Fiona Cin­cotta, a se­nior mar­ket an­a­lyst at City In­dex, said: “Fol­low­ing a Fed in­spired rally on Wall Street, the FTSE jumped higher on the open and re­tained its gains across the ses­sion.

“Whilst banks ini­tially traded higher fol­low­ing a com­fort­able pass in the most re­cent stress test, com­mod­ity stocks did most the heavy lift­ing as they traced base met­als and oil prices higher.”

Brent crude was trad­ing over 2.5% higher at $60 a bar­rel after a sharp selloff ear­lier in the week.

A weaker pound, flag­ging un­der the

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