Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Iron ore surge boosts FTSE 100 miners, Galliford jumps

Published 28/05/2019, 08:20
Iron ore surge boosts FTSE 100 miners, Galliford jumps

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.3%, FTSE 250 up 0.1%
* Blue-chip miners lead gains
* Galliford jumps after snubbing Bovis' offer for units

May 28 (Reuters) - Gains in mining company shares due to a
rise in China's iron ore prices pushed London's main stock
market index higher on Tuesday, while those in construction firm
Galliford jumped after it rejected an offer for two housing
businesses.
The FTSE 100 .FTSE rose 0.3% while the mid-cap FTSE 250
inched up 0.1% by 0707 GMT.
China's iron ore prices have hit record highs this week amid
rising concerns of over supply due to shrinking stocks and
worries about another Brazil mine dam at risk of collapsing.
IRONORE/
Rio Tinto RIO.L , BHP BHPB.L and Antofagasta ANTO.L
were among the top boosts to the main FTSE index.
Share of mid-cap builder Galliford GFRD.L , one of those to
have suffered from the collapse of major government contractor
Carillion last year, surged 8% after news emerged of a rebuffed
offer for two of its units from Bovis Homes BVS.L .
Shares of Bovis, which said it was "no longer in talks" over
the purchases, were roughly flat. Tour operator Thomas Cook TCG.L , hammered last week by
worries over its cashflow and summer sales, advanced 7.8% after
Berenberg raised its rating to "hold" from "sell", citing the
bids the company has said it has received for its airline unit.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.