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Fed lifts FTSE as Anglo American ditches coal

by LLB Editor
8th Apr 21 10:59 am

The latest indication from the US Federal Reserve that it has no intention of lifting interest rates anytime soon helped set the FTSE 100 on course for a third straight day of gains on Thursday.

“Also helping the index were gains for heavyweight miner Anglo American as it announced plans to demerge its thermal coal business in South Africa.

“Mining stocks are on a transition from being contributors to climate change to playing a critical role in sourcing the metals and other materials required for renewables and electric vehicle infrastructure as the world looks to move away from fossil fuels,” says AJ Bell financial analyst Danni Hewson.

“Reopening optimism continues to push the more domestic-focused FTSE 250 to fresh record highs despite concerns over the vaccine rollout and possible side-effects with the AstraZeneca jab.”

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