News

January 11, 2009

That Was The Week That Was … In London

By Our London Correspondent

London’s miners for the most part enjoyed a very strong start to 2009, although there doesn’t appear to be any particularly convincing reason for the positive trend other than some slight improvements in commodity prices. Certainly there is little support for the strength in terms of general news about the global economy.

All of the FTSE 100 miners added value with the exception of newcomer Randgold Resources (LSE: RRS) which fell victim to some profit taking after its recent entry into the index. The other large miners have gone up by an average of nearly 11 per cent so far this year. Xstrata (LSE: XTA) has been the best by far, having registered a rise of just over 35 per cent, though there was no specific news to support the increase in price. Indeed, right across the sector there’s been very little in terms...