Mining stocks push FTSE 100 higher at open

Kitco Media
By Reuters
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Reuters
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FTSE 100 up 0.2%, FTSE 250 adds 0.3%


March 3 (Reuters) - UK's exporter-heavy FTSE 100 opened higher on Friday, boosted by mining stocks as metal prices rose on optimism of a recovery in top consumer China, while an overnight rise in U.S. stocks also helped gains. The blue-chip FTSE 100 gained 0.2% by 0820 GMT, while the more domestically-focussed FTSE 250 midcap index rose 0.3%. Both British indexes are on track to rise nearly 1% for the week. Industrial metal miners took an early lead, rising 1.6% as metal prices gained after promising economic data from China buoyed demand prospects. Global markets are tracking overnight gains in U.S. markets, which closed higher on Thursday, taking cues from Atlanta Federal Reserve President Raphael Bostic who argued for the central bank to stick with "steady" quarter-point rate increases for now. Oilfield services firm Hunting dropped 10.6% after Berenberg downgraded the stock to "hold" from "buy". (Reporting by Shashwat Chauhan in Bengaluru; editing by Eileen Soreng)


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