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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Sector movers: Miners lead on hopes for Chinese housing sector

(Sharecast News) - Miners paced gains on the FTSE 350 at the start of the week as optimism over Chinese housing sales boosted the price of copper. According to Reuters, new home sales in 16 Chinese cities jumped for a fifth straight week, fanning hopes that the construction sector might have hit bottom.

On the back of the news, three-month LME copper futures rose 1.71% to $9,141.50 per metric tonne.

Analysts at SP Angel also noted how the rapid build up of copper inventories seen during the previous week had begun to slow in Shanghai.

Top performing sectors so far today

Industrial Metals & Mining 7,967.35 +2.70%

Household Goods & Home Construction 11,677.76 +1.44%

Precious Metals and Mining 10,839.29 +1.18%

Construction & Materials 8,076.68 +1.13%

Chemicals 12,646.20 +0.77%

Bottom performing sectors so far today

Leisure Goods 23,058.64 -1.75%

Retailers 3,348.89 -0.81%

Electronic & Electrical Equipment 9,582.05 -0.73%

Real Estate Investment Trusts 2,444.32 -0.68%

Personal Care, Drug and Grocery Stores 4,202.67 -0.66%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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