Good news from China boosts #mining shares

Mining shares are on the up after China, the world’s leading commodities consumer, announced that it will bring forward several infrastructure projects to boost the economy.

As reported in the Guardian, Rio Tinto benefitted most from the news, with shares in the FTSE 100 rising 101p to £29.24. Other mining companies such as Antofagasta and Xstrata also saw sharp rises in their share prices, after the Chinese government asked for project proposals by the end of June, according to the China Securities Journal.

This development coincides with a general upwards trend in the FTSE 100, aided by better-than-expected UK inflation figures.

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