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FTSE 100 lifted by miners after strong China data

by LLB Reporter
1st Mar 23 10:53 am

Miners helped lead the FTSE 100 higher on the latest Chinese manufacturing data which has positive implications in terms of commodities demand

AJ Bell investment director Russ Mould said: “Further evidence of the industry’s positive outlook could be found in results from mining services firm Weir which unveiled an impressive increase in its dividend and posted a record order book.

“The strength in resources stocks helped make for a fragile housebuilding sector as Persimmon’s results created a stink and house prices continued to soften in the UK.

“US PMI data for the manufacturing sector later is likely to be closely watched as investors continue to look for a way through recession risks and the implications for interest rates from better-than-expected data.

“Just Eat Takeaway may have grown revenues in 2022, but this reflected higher prices and the volume of orders dropped significantly. As households cut back it could be difficult for the company to maintain its path towards consistent profitability.”


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