Miners lead FTSE charge on rising hopes for Chinese economy

MULTINATIONAL mining stocks underpinned broad gains on London's FTSE 100 today, helped by hopeful signs for China's economy, the main market for the metals produced by the sector.

- Michael Hunter

Data showing a rebound in bank lending in China stoked hope that the giant economy was gathering some momentum. It helped ease fears over a slowdown in the fast-growing economy and opened the way for companies earning revenue there to make some progress.

Metals producers crowded to the top of the leaderboard as the FTSE 100 added over 65 points overall to 7,543.30 a rise of 0.9%.

Anglo American took top spot, up 69p to 2092p, a rise of over 3%. Rio Tinto was up 134p to 4968p. Antofagasta gained 41p to 1509p. Glencore, the miner and commodities trading giant, was up 10p to 435p.