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Monday, February 20, 2012 11:16:17 AM
Did anyone see:
MADRID (MarketWatch) -- London stock markets traded higher on Monday, with resources stocks driving gains after China cut its reserve-ratio requirement for banks, while financials rose as investors remained optimistic over prospects for a Greek bailout agreement
Resources stocks in general rose on Monday after the weekend decision by the People's Bank of China to cut the reserve ratio -- the amount banks must have in reserve -- to boost liquidity in the economy. China is a big user of natural resources and those commodities are sensitive to signs of growth in the economy.
Among miners, shares of Eurasian Natural Resources Corp. PLC (ENRC) jumped 3.6%, Vedanta Resources PLC (VED) gained 3.4%, Rio Tinto PLC (RIO) (RIO) rose 2.7%, Bhp Billiton PLC (BHP) (BLT) gained 2.6% and Xstrata PLC (XTA) added 1.8%.
And add to that the future price of gold, will at the very least get to $1,900 and many are predicting much higher. I think $3-4 grand max though honestly.
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