London Stock Markets: Industrial Metal Miners Boost Gains Amid China Stimulus Hopes
London's stock indexes rose, driven by industrial metal miners anticipating China's economic stimulus. The FTSE 100 and FTSE 250 both saw gains, with mining stocks leading the increase. However, some sectors, like UK banks and personal goods, experienced downturns amid various economic concerns, including potential U.S. dollar shocks and falling property prices.
On Monday, London's main stock indexes experienced a slight uptick, bolstered by a surge in industrial metal mining stocks, following speculation of economic stimulus measures from China, the world's largest commodity consumer.
The internationally-focused FTSE 100 increased by 0.1% as of 0929 GMT, extending a streak of weekly gains, while the midcap FTSE 250 climbed 0.3%. This rise was driven by hopes of a Bank of England rate cut and a reaction to rising commodity prices.
Among the winners, mining giants such as Glencore, Anglo American, Antofagasta, and Rio Tinto saw notable gains. Conversely, sectors like banks, financial services, and personal goods faced declines amidst recession concerns and a notable drop in British consumer sentiment.
(With inputs from agencies.)
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- FTSE 100
- FTSE 250
- metal mining
- China
- stimulus
- economic
- gains
- mining stocks
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