FTSE 100 extends 2016 peaks
On Monday, British stocks extended their reach into 2016 peaks, with mining stocks taking advantage of pessimistic economic data from China, a major importer of industrial as well as precious metals.
Britain’s FTSE 100 soared 0.4%, being worth 6,818.85, led by basic material as well as financial shares. The index on Friday edged up 0.8%, hitting 6,793.47, thus notching a fresh closing peak for the year. Equities kept getting a lift from an aggressive monetary stimulus package from the Bank of England. The index concluded the previous week with a 1% revenue.
Among miners, copper and platinum maker Anglo American PLC earned 2.5%, while iron-ore producer BHP Billiton PLC grasped 2.2%. As for copper company Antofagasta PLC, its shares rose 1.8%.
The moves kicked in after the issue of July trade data from China. Additionally, exports sank 4.4% from a year earlier, the General Administration of Customs told on Monday, suggesting overseas shipments are dragging on the number two world’s economy.