Miners gain the most in 2009 so far
MINING stocks have seen the biggest recovery in value of all FTSE 100 constituents so far this year, according to Thomson Reuters Datastream figures.
An increased demand from the construction sector and improved confidence in a global economic recovery have driven mining shares higher, meaning that seven companies from within the sector are in the top 15 FTSE 100 performers. Kazakhyms has gained 326 per cent since 2 January, while silver miner Fresnillo has leapt up by 209 per cent.
Newcomers Rentokil and Burberry are also in the top 15, having added 161 per cent and 106.64 per cent respectively over the period. Pest control and laundry service group Rentokil only officially joined the large-cap index on Monday, as part of the index’s quarterly reshuffle.
Burberry also got promoted to the benchmark index to replace Thomson Reuters, which delisted from the London Stock Exchange earlier this month.
Banks – which saw their share prices drop at the end of 2008 as Lehman Brothers collapsed and the financial crisis took hold – have recovered in the past nine months, but not enough to top the leader board. Standard Chartered and Barclays are the only banks in the top 15.