FBS - Analytics


    558.00 6.00/10
    84% of positive reviews

    FTSE 100 rallies as miners go up

    On Monday, British shares rallied mostly due to decent gains for mining stocks, while the British pound tumbled and briefly traded at a three-week minimum when surveys showed the Brexit campaign started to gain ground.   

    The FTSE 100 index jumped 0.8%, being worth 6,259.78.

    By the way, on Friday, the FTSE 100 gained 0.4%, though down from its trading session peak, as global growth fears affected markets after a much-worse-than-expected American jobs report. The British number one index dipped 1% for the week, the first weekly dive in four weeks.

    The British pound has recently lost 0.6%, trading at $1.4428. As FactSet data states, the major British currency dipped as low as $1.4353, demonstrating an almost three-week minimum.

    The tumble arose right after two surveys over the weekend unveiled more support for the so-called Brexit, thus justifying the push for the UK’s exit the European Union.

    Mining stocks, which were surging on Monday included Anglo American PLC  with its 7.7% soar, Rio Tinto PLC with 5.5% and BHP Billiton PLC with 5.4%. As for Glencore PLC  and Antofagasta, they ascended respectively 5% and 4.8%.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree