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Article: Miners push FTSE to new five-year high
- Article from:
- The Scotsman
- Article date:
- April 22, 2006
- Author:
CopyrightCopyright 2006 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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JUST when nervous investors thought mining shares had embarked on
a headlong plunge, they rallied again yesterday, sending the FTSE 100
index to a new five-year high.
Mining shares took the top three spots on the blue-chip risers'
board with gains of 5 per cent for both Antofagasta and Xstrata as
the Footsie added 51.3 points to close at 6,132.7. This took the gain
on the week to 103.3 points.
There was also strong demand for oil stocks, with BP and Royal
Dutch Shell advancing 11.5p and 44p to 712p and 2,043p respectively.
Jimmy Yates, a trader at CMC Markets, said: "Although both oil and
gold are now sitting a little way off recent highs, there are still
no solid suggestions that we're ...