FTSE stages mini-bounce as battered mining stocks rally
Mining stocks also surged, with Anglo American rising 11.8 percent on the back of higher diamond sales at its De Beers division, and firmer copper prices also lent support. [MET/L]
MB Capital director Marcus Bullus said his outlook was positive because outside the volatile commodities sector there were solid results, such as higher profits at housebuilder Crest Nicholson.
“I’d be looking to go with the upside momentum but maybe with a stop/loss at 5,640 points if the FTSE started to fall back down again,” he said.
The FTSE remains nearly 20 percent below a record high of 7,122.74 points hit in April 2015.