FTSE 100 jumps 2.86% on Chinese pump priming
FTSE 100 jumps 2.86% on Chinese pump priming
Monday 10th November 2008
The FTSE 100 started the week with a 2.93 per cent jump to 4,492.79 – pushing aside last week's sell-off.At 9:10 GMT the index was up 127.783 points – as Chinese plans to boost its economy with a $600 billion injection cheered traders.
Miners led the gains off the back of hopes of greater demand from China, with Xstrata up 13.67 per cent.
Rio Tinto rose 12.83 per cent, Anglo American gained 12.72 per cent, Kazakhmys gained 12.37 per cent and BHP Billiton climbed 12.12 per cent.
Royal Bank of Scotland led the drops falling 3.91 per cent to 61.50p, while Standard Chartered was down 3.03 per cent.
In Asia overnight, the Hang Seng rose 3.52 per cent and the Nikkei was up 5.81 per cent.
In Europe the Dax was up 3.05 per cent and the Cac 40 rose 3.25 per cent.
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