London-listed miners led U.K. stocks higher as news of easing deflation in China bolstered hopes of improved demand from the world's second biggest economy.
Shares of London-listed miners led U.K. stocks higher Monday as news of easing deflationary pressure in China bolstered hopes of improved demand from the world’s second-biggest economy.
The readings imply an improvement in the commodities demand picture from China and provides a boost to the resources sector, according to Russ Mould, investment director at AJ Bell. The U.K.’s benchmark UK:UKX came off those early session highs but was still gaining 0.1% as copper miner Antofagasta ANTO, +3.24% rose more than 3%, while Anglo American AAL, +2.57%, Rio Tinto RIO, +2.92% and BHP BHP, +2.20% were all up between 2-3%.
“[T]he need for more affordable housing doesn’t go away because economic conditions look tough. This provides large fixed-volume projects which should hold up better in a downturn,” said Aarin Chiekrie, equity analyst at Hargreaves Lansdown.
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