Copper erases gains, lead hits new high

(Reuters) - Copper erased gains on Tuesday in a market reluctant to make big bets as worries swirled about demand from China, the top consumer of the metal, while lead hit a fresh record high.

Weakness in metal prices was reflected in mining stocks. London-listed miners such as Vedanta Resources, Anglo American, Rio Tinto, Xstrata and Kazakhmys either pared earlier gains or traded with slight losses.


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Miners fuel FTSE, M&A turns on electricity shares

(Reuters) - Britain's top share index advanced 0.5 percent amid buoyant European trade on Tuesday, as miners forged higher on robust copper prices and takeover hopes put the spark back into electricity stocks.

The mining sector accounted for a third of the index's upside, with Xstrata topping the gainers chart, up 3.4 percent, closely tailed by rising shares in fellow miners Kazakhmys, Rio Tinto and Lonmin.


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FTSE firm, led by commodities and banks

(Reuters) - Britain's leading share index kicked off Tuesday's trading session in firm territory, as healthy oil and copper prices bolstered commodity stocks and banks bounced back.

Among miners, Kazakhmys added 2.4 percent and Rio Tinto gained 1.7 percent, while Xstrata, Anglo American and BHP Billiton were also standout gainers, after copper futures hit a three-month high.


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FTSE at 6-year high, boosted by miners, Sainsbury

Britain's FTSE 100 index rose to a six-year high by midday on Monday, led by mining stocks on a bullish outlook for copper, talk of a buyback from Anglo American and bid speculation around Sainsbury.

Anglo American surged 2.6 percent after the Financial Times reported the miner was expected to announce this week a further share buy-back plan that would return up to $4 billion to shareholders on the back of the boom in metal prices. JPMorgan lifted its price target for the stock.

Other miners were also buoyed by expectations that copper prices were set to rise as China replenished its stocks next week after the Chinese New Year holidays.
Lonmin climbed 2 percent, Kazakhmys gained 1.9 percent, BHP Billiton added 0.7 percent and Rio Tinto put on 1 percent.

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FTSE flat ahead of BoE rate decision, miners up

Britain's FTSE 100 index was flat by mid-session on Wednesday as gains in mining stocks, buoyed by BHP Billiton's results, were offset by concerns over interest rates ahead of a key Bank of England meeting.

BHP Billiton, the world's biggest miner, was the biggest gainer, up 4.1 percent after it announced a 41 percent jump in first-half profit and earmarked an extra $10 billion for share buybacks.

Fellow miners also rose, with Vedanta Resources up 2.3 percent, Kazakhmys tacking on 0.5 percent, Anglo American rising 1 percent and Xstrata adding 0.5 percent.

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FTSE down as commodities and Wall St drag

The FTSE 100 of Britain's leading shares was down 0.4 percent on Friday, dragged lower by commodities and after U.S. stocks fell sharply following weaker payroll and existing homes sales figures on Thursday.

With U.S. crude oil prices at below $55 after a 2 percent fall the previous day, heavyweight oil stocks dragged the FTSE 100 down. BP and Royal Dutch Shell both dipped 0.5 percent.

Mining stocks also featured on the downside, on economic worries and falling base and precious metals. BHP Billiton dropped 1.5 percent, Rio Tinto fell 1.4 percent and Kazakhmys lost 1 percent.

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