Antofag.5%pr Share News (70GD)

LONDON (Alliance News) - Stocks in London ended the day firmly in the green on Friday, with sentiment buoyed by US-China trade hopes as well as better than expected US employment data. On the London Stock Exchange, mining stocks have been helped by positive manufacturing and services data coming from China. The FTSE 100 index closed up 144.76 points, or 2.2%, at 6,837.42. The large cap index has ended the week 1.6% higher. The FTSE 250 ended 356.97 points higher, or 2.1%, at 17,795.88. The AIM All-Share finished up 1.5% at 874.37. The Cboe UK 100 ended the day up 2.0% at 11,605.58, while the Cboe UK 250 closed 1.8% higher at 15,897.06, and the Cboe UK Small Companies finished up 4.02 points at 10,924.70."Stocks soared today after positive news was released from China overnight," said CMC Markets UK's David Madden. "The Chinese government confirmed it will assist the economy in light of the broadly disappointing economic indicators that have been released in recent weeks. The reserve requirement ratio has been trimmed in order to boost the economy, and cuts to taxes are expected too, and that has raised sentiment across Europe." "Adding to that, the US and China have agreed to hold trade talks on the 7 and 8 of January," he continued. "The landscape has changed recently, and given the sell-off in US stocks, and the continued weakness in Chinese equities in the past couple of months, both sides may take a softer approach to the talks. Mining and oil shares are higher on the back of the Chinese news, and they are some of the biggest risers on the FTSE 100.""The impressive non-farm payrolls report from the US added volatility at lunchtime, and European markets continued their rally," Madden concluded. In the US Wall Street is on the charge, with the Dow Jones Industrial Average up 2.6%, the S&P 500 2.7% higher, and the Nasdaq Composite up 3.6%, after a sharp Apple-led fall on Thursday.Employment in the US spiked by much more than anticipated in the month of December, according to a closely watched report released by the Labor Department.The Labor Department said non-farm payroll employment soared by 312,000 jobs in December after climbing by an upwardly revised 176,000 jobs in November.Economists had expected employment to increase by about 177,000 jobs compared to the addition of 155,000 jobs originally reported for the previous month.Despite the much stronger than expected job growth, the report said the unemployment rate rose to 3.9% in December from 3.7% in November. The unemployment rate had been expected to come in unchanged.The Labor Department also said average hourly employee earnings payrolls climbed by 11 cents to USD27.48 in December, reflecting a 3.2% increase compared to the same month a year ago.The first direct negotiations in the trade dispute between China and the US since the announcement of a "ceasefire" last month are expected to take place next week, which has helped boost sentiment globally. A US delegation is due to attend the two-day talks on Monday, the Chinese Ministry of Commerce said.China's manufacturing and services sector experienced a five-month high in December, data from IHS Markit showed. The Caixin China Composite PMI reading came in at 52.2 at the end of 2018, up from 51.9 in November, as a result of higher activity levels across both sectors, with China's services companies registering continued growth and manufacturing expanding somewhat following "two months of stagnation".Markit also noted the "solid upturn" in services and highlighted the Caixin China General Services Business Activity Index, which increased slightly to 53.9 in December from 53.8 in November, just reaching its six-month high.Turning to the London Stock Exchange, miners were supported by the positive Chinese services data, recovering from Wednesday's losses on disappointing manufacturing data from the country. Antofagasta ended up 5.0%, Glencore and Anglo American both closed up 3.5%, and Rio Tinto rose 3.2%.BHP Group rose 4.7%, while steelmaker Evraz was also a gainer, ending up 6.1%, after ending down 7.1% on Thursday. Overall, the FTSE 350 Mining Sector Index ended up 4.6% on Friday, pushing it into positive territory for the week. One miner down, however, was Mexican firm Fresnillo, ending 1.5% lower, as the price of gold eases back.Gold was quoted at USD1,285.80 an ounce at the close Friday against USD1,288.62 Thursday.Brent oil was lower quoted at USD57.34 a barrel at the close from USD55.41 Thursday. In the UK corporate calendar on Monday there are just trading statements from wealth management firm Mattioli Woods and urban regeneration and land development company MJ Gleeson.However, things will tick up later in the week as retailers unveil their performances over the busy Christmas period.On Tuesday comes a trading statement from WM Morrison Supermarkets, as well as brewer Greene King.Wednesday sees J Sainsbury, baker Greggs, Majestic Wine, and fashion retailers Joules and Ted Baker all release trading statements, while Centamin will report fourth quarterly output.Tesco releases a trading statement on Thursday, as do Card Factory, DFS Furniture, and clothing retailer Quiz. The same day, Marks & Spencer release third quarter results, and Superdry unveils interims. Rounding off the week on Friday are trading statements from men's fashion brand Moss Bros and shoe company Footasylum. The pound was quoted at USD1.2723 at the close Friday, up from USD1.2634 late Thursday.Brexit is continuing to weigh on business-to-business spending, IHS Markit said on Friday, as the UK services purchasing managers' index made only a small gain on November.December's services PMI came in at 51.2, according to the IHS Markit/CIPS index, improved from the 50.4 in November, which was a 28-month low.IHS Markit said the latest data suggests growth in new work also only slightly increased in December month-on-month, with political uncertainty and low confidence going ahead weighing.In mainland Europe, the CAC 40 in Paris closed up 2.7% and the DAX 30 in Frankfurt ended up 3.3%.The euro stood higher at USD1.1409 Friday, against USD1.1399 the prior day.The eurozone PMI composite output index moved closer to the 50.0 no-change mark in December. Registering a final reading of 51.1, down from 52.7 in November and lower than the earlier flash estimate of 51.3.The index was at its weakest level for over four years, reflecting lower activity in France caused by the "gilets jaunes" protests, and Germany, whose composite PMI contracted to 51.8 from 53.3 in November.Meanwhile, the eurozone services PMI score declined for a third successive month during December to hit its lowest level in more than four years. After accounting for seasonality, the index recorded 51.2, down from November's 53.4, indicative of modest growth.Internationally in the data calendar next week, on Monday there are German and EU retail sales for November, as well as the US non-manufacturing PMI for December.On Tuesday, there is Germany's November industrial production and US JOLTS job openings for November, as well as the US' trade balance for November.Wednesday sees Germany's trade balance, EU unemployment, as well as a speech by Bank of England Governor Mark Carney and the release of the US Federal Reserve's latest minutes.The European Central Bank will release meeting accounts for its monetary policy committee on Thursday, while the Fed's Chairman Jerome Powell will speak the same day.Lastly, on Friday, there is UK manufacturing and industrial output and gross domestic product for November. In the US, there is the consumer price index for December.