The London stock exchange rebound after the Easter. Investors focused mainly on the mining stock. The FTSE index surged by 1,28 percent while the mining segment added 3 percent during Tuesday´s trading.
Stocks of mining companies Glencore, British Petroleum and Antofagasta were the main drivers of Tuesday's trading on the London Stock Exchange. While British Petroleum added just over two percent, Glencore and Antofagasta strengthened by more than three percent. Investors' interest in mining stocks was driven by optimism about future economic developments in the world and in major global economies.
In particular, the Glencore Plc., based in Switzerland, has become the focus of investors´ attention in recent weeks. Almost a month ago, it’s the company´s chair Tony Hayward announced he would step down in 2022. Shortly afterwards, the departure was announced by other top managers. Glencore shares declined in reaction to the news, but they have had a rally in the last two weeks.
Some analysts have set the target price of Glencore shares at p310, with the current price around p290. The stock thus has about 7 percent growth potential.
Nyaga, Investing Cube
Evans, Evening Standard