Shanghai races ahead as Beijing holds rates steady

clock

The Shanghai Composite surged 2.9%, its biggest advance since mid-October, as China held interest rates steady despite rising inflation.

The Nikkei 225 rose 0.8% to 10,293.89 and the Hang Seng climbed 0.7% to 23,317.61. Silver, copper, nickel and tin had all gained ground ahead of Beijing's announcement. In London, miners lifted the FTSE by 0.5%, or 29 points to 5,842.03 in early trading. Kazakhmys was 2.4% higher at £15.6; Eurasian Natural Resources was up 2.5% at 989.5p; Xstrata climbed 2.1% to £14.71; and Anglo America was up 1.9% at £30.85. Among the fallers were ARM Holdings, off 1% at 392p, while Shire fell 0.2% to £14.78. Wellstream jumped 5.2% to 785.5p on reports General Electric is poised to seal a £...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why the lead-up to the Budget may have been worse than the Budget itself

Why the lead-up to the Budget may have been worse than the Budget itself

What Rachel Reeves and Dr Evil have in common

Laith Khalaf
clock 13 November 2024 • 4 min read
Bank of England meets expectations with 25 basis point rate cut to 4.75%

Bank of England meets expectations with 25 basis point rate cut to 4.75%

'Continued progress' on disinflation

Valeria Martinez
clock 07 November 2024 • 2 min read
'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read