AFP: Gold, Silver And Platinum Rise To Bolster Miners
Overview: the FTSE 100 ended the day with gains, marking a reverse from yesterday’s retreat when the blue chip index lost 40 points. The market was boosted by the mining and energy sectors which made gains responding to increases in oil and metals prices as oil benchmarks, gold, silver, copper and nickel all inched higher. Wall Street also opened higher with the Dow Jones industrial average tacking on about 15 points in early trade, contributing to the positive sentiment and helping the Footsie to more gains.
Mining stocks expectedly flooded the leadboard, yet it was tour operator Carnival Corporation (LSE: CCL) that led the pack with a 5.3% improvement. Sector peer TUI Travel (LSE: TT) rose 3.6% in sympathy.
London listed Kazakh miner Eurasian Natural Resources (LSE: ENRC) rallied 5.2% to lead the sector, while Fresnillo (LSE: FRES), Rio Tinto (LSE: RIO) and Vedanta Resources (LSE: VED) followed, climbing 4.2%, 3.3% and 3.2% respectively.
The fallers list was topped by defensive stocks, primarily utility companies, and retailers. United Utilities (LSE: UU) and sector peer Severn Trent (LSE: SVT) sank to the bottom of the FTSE 100, dipping 2.6% and 2.4%. Packaging group Rexam (LSE: REX) joined in with a 1.2% loss following the announcement of the shutdown of its can plant in Dunkirk. Commercial property company British Land (LSE: BLND) was another notable faller with a 2.3% decline.
