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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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Mining

Glencore, Anglo American and other miners lead FTSE gains

Mining giants Antofagasta PLC (LSE:ANTO) and Anglo American PLC (LSE:AAL) provided some of the leading gains on the FTSE 100 on Monday morning, as copper and iron ore prices rose.

Market analysts pointed to moves in China as a likely reason for the stronger sentiment in the sector.

Miner and commodities trading colossus Glencore PLC (LSE:GLEN) was the early leader, gaining 3.4%.

Shares in Chilean copper miner Antofagasta rose 3.1%, while Anglo, which also has a stronger focus on copper due to its strategic restructuring, was up 3.3%.

Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF), another diversified miner with heavy interest in copper, rose 2.8%.

Impressive share gains for the sector were hailed by market analyst Victoria Scholar at Interactive Investor, who said: "This is after China started work on the world’s largest dam in Tibet, pushing iron ore and steel prices to four-month highs."

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