Mining Stocks Up on Better Chinese Economic Growth

UK mining stocks rose today after better than expected Chinese economic data and record steel production

Karen Kwok 17 July, 2017 | 6:12PM

Shares in UK mining stocks were up on Monday, boosted by positive economic data from China.

China’s economy expanded 6.9% in the second quarter of the year compared to the same three months in 2016. This was the same growth rate as the first quarter, running January to March end, the National Bureau of Statistics of China said today. This was higher than analysts’ expectations of 6.8% GDP growth. Industrial output rose 7.6% in June compared to 2016, higher than the estimated 6.5% increase. 

The Chinese government has set an economic growth target of 6.5% "or higher if possible," for 2017, the lowest economic growth target in 25 years.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Anglo American PLC1,699.00 GBX-0.09
Antofagasta PLC895.20 GBX2.15
BHP Group PLC1,593.00 GBX0.75
Glencore PLC156.96 GBX4.77
Rio Tinto PLC4,377.00 GBX1.48

About Author

Karen Kwok

Karen Kwok  is a Reporter for Morningstar.co.uk

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