miners

Mining stocks have driven the FTSE 100 to a four year high, boosted by better than expected Chinese growth figures.

2012 was a particularly tough year for some sectors, notably commodities and gold, as fears over global growth weighed on demand for materials.

The FTSE 100 has reached its highest level since March following positive consumer data from Germany and signs of improving growth in China.

Mining stocks and oil giant BP provided a lift for London's FTSE 100 today as a huge storm hit the eastern United States, keeping Wall Street closed for a second day.

Shares in Bumi, the London-listed coal miner, plunged over 25% today after it revealed an Indonesian miner it part owns is under investigation over potential financial irregularities.

Global markets sold off this morning as bullish sentiment over central bank moves showed signs of losing momentum.

Sebastian Lyon has put more money behind unloved mining equities in his £2.2bn Trojan fund, after a prolonged period of underperformance from the sector.

The FTSE continued to make huge gains in afternoon trading, reaching its highest level since late March after the Federal Reserve unveiled its third round of quantitative easing.

Shares in platinum miner Lonmin fell sharply into the red on opening this morning, down more than 4%, as the group warned its 3,000 striking employees will be dismissed if they do not return to work today.

Global mining giant Rio Tinto has suffered a 22% drop in profits for the first half of 2012 as weak commodity prices hit growth.