Article in the Mail.3 Jun 2023 09:04
mining stocks pressed higher amid reports that china could unveil a major stimulus package to turbocharge its economy.
the chinese government is considering new measures to prop up its faltering property market.
actions could include cutting the down payment for a mortgage in some neighbourhoods, reducing agent commissions on deals, and relaxing restrictions for residential purchases, bloomberg reported.
it comes as the world's second-largest economy could provide further policy support as part of its post-pandemic recovery.
such hopes lifted china-exposed stocks, with anglo american adding 5.2 per cent, or 118.5p, to 2418p, while anto***asta was up 5.5 per cent, or 76.5p, to 1459.5p, glencore gained 4.1 per cent, or 17p, to 433.9p and rio tinto climbed by 3.8 per cent, or 184p, to 5070p.