FTSE Rises as China Rate Cut Boosts Mining Sector

Leading shares are continuing their record breaking run, buoyed by a rise in mining shares after China cut interest rates over the weekend.

The move by the Chinese central bank came amid concerns about a slowdown in the country’s economy although the latest HSBC purchasing managers index showed the factory sector edged to a seven-month high in February although exports fell back.

Meanwhile, with another mixed picture from the eurozone economy, investors are also awaiting the European Central Bank’s proposed quantitative easing programme to begin this month.

via The Guardian

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza