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It’s been another decent day for basic resource stocks as metals price continue to rise. Copper prices have risen back to their highest levels since July, while aluminium prices are back at 2008 levels.
Rising oil and gas prices are once again putting pressure on energy intensive industries, forcing them to cut production in the face of spiralling costs and creating supply shortages, with Belgian metals supplier and manufacturer Nyrstar cutting output by 50% at three of its European zinc smelters.
The FTSE100 has managed to get back near to its recent range highs, above 7,200 led by the likes of Anglo American, Antofagasta and Glencore, while oil prices are helping to support the likes of BP and Royal Dutch Shell.
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