12/02/14 Market Movements
The FTSE 100 closed up 2.37 points at 6,675.03 after Chinese trade data enhanced the recovering mining sector.
The mining sector (which accounts for approximately 8% of the FTSE100) was boosted after China surprised markets by announcing total exports climbed 10.6% since January 2013 – more than five times the anticipated increase of 2%.
Analysts have warned that the figures released may be inflated by fake trade transactions as traders forge deals to sneak cash into the country past capital controls.
The mining sector, which fell sharply in 2013 is now up nearly 6% in 2014, whereas the FTSE100 is down 1%.
CAT stock is currently up 0.96% at $95.86
Petropavlovsk exceeded its TSP (85p) today as it closed at 86p.