Sector movers: Increased risk benefits banks, miners

Date: Tuesday 12 Jun 2012

Banks and miners were making gains on Tuesday as risk appetite increased on the back of hopes that the Federal Reserve (Fed) may announce further stimulus next week at its policy meeting.

Chicago Fed President Charles Evans today threw his weight behind the central bank kick-starting the world's largest economy.

In an interview with Bloomberg TV, he said: "I've been favour of pretty much any accommodative policy I've heard about […] Extending the Twist would be useful […] More asset purchases would be useful. More mortgage-backed securities purchases would be good.”

Evans sits on the Federal Open Market Committee which sets monetary policy for the US, his comments have given investors hope some kind of massive US intervention is possible.

Banking groups Lloyds, RBS and HSBC finished the day with gains while mining peers Randgold and Fresnillo tracked precious metals higher.


Top performing sectors so far today
Mobile Telecommunications 4,046.71 +2.10%
Fixed Line Telecommunications 2,448.24 +1.72%
Tobacco 36,003.85 +1.37%
Banks 3,573.52 +1.09%
Mining 17,803.50 +1.07%

Bottom performing sectors so far today
Electronic & Electrical Equipment 3,084.79 -2.00%
Industrial Metals & Mining 2,767.98 -1.90%
Technology Hardware & Equipment 674.20 -1.11%
Software & Computer Services 791.30 -1.05%
General Retailers 1,624.34 -1.04%

BC

« Go back to news channel

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE