U.K. Stocks Reverse Higher on Gains in Shares of Miners and Upbeat Economic Data
Oct, 10th 12:19
U.K. shares advanced on Tuesday, reversing higher from a loss in the previous session. Mining shares led the overall performance thanks to gains in prices of dollar-denominated metals while upbeat industrial production figures also contributed to the bullish sentiment.
The FTSE 100 index jumped nearly 0.25 percent to trade at 7,526.71 after having slipped 0.2 percent on Monday. Shares of copper producers soared as copper prices touched their highest in four weeks on Tuesday. The metal climbed 0.45 percent to trade at $3.0445, sending shares of copper producers Antofagasta PLC and Fresnillo PLC up 1.58% and 1.75%, respectively.
On the back of a weak dollar, gold and silver prices were also on a rise, helping bolster shares of international gold mining and exploration business Randgold Resources up 0.8%.
Meanwhile, the Office for National Statistics on Tuesday reported that manufacturing production grew by 0.4% month on month in August, brought the annual growth rate to 2.8%, outstripping expectations of a 1.9% increase. Industrial production was reported to climb 1.6% year-over-year, also above a forecast of 0.9%.
Buy Digital Call Option from 7,526.71 to 7,550.00 valid until 20:00 GMT October 10, 2017
The website/brand www.optionbanque.com is jointly operated by Capital Street BancClear Corporation Limited(SVG) and Capital Street Intermarkets Limited(MU). The services provided by Option Banque are provided by the two companies jointly, and all securities trading services offered by Option Banque are offered via the full services securities dealer licence Number C112010690 issued by the FSC Mauritius.