The FTSE, the top share index of Britain hits a higher level before the whole trading week closed as the mining stocks entered the market scene that is expecting for a positive economic growth reports from China, which is the biggest metal consumer in the whole world. This is because there are many economists were expecting that the gross domestic product of China will expand by 8.3% for the first quarter on a quarter-on-quarter comparison, right after a high growth for the last quarter that just passed prior to that. Boosting this further, there are also some analysts who were expecting a one point closer to a double digit or simply 9%. These expectations consequently prompted many traders to snap up their equities.
On the other side of the global economy, the mining index of the United Kingdom climbed up to 3.1 per cent making it prolong the recent rally it made. This was also boosted by the firmer prices of copper in the country and the global market. Consequently, it rose further to $8,000 per tonne as the worries in the outlook for the global economic eased a little.
Further, the trade deficit issues in the United States unexpectedly narrowed in February as the exports of the country hit a higher record while the imports from China as well as other suppliers shrunk significantly. Also, it may also be attributed to the volume of oil import falling down to its lowest level in 15 years.
Going back to the expected growth of the gross domestic products of the Chinese economy, a stronger turnout would indeed really be appreciated since it is very important to calm the fears and negative speculations concerning the sharp global economic slowdown. Aside from that, considering that China is a major global economy, any movement from its market, most especially in the heavyweight mining indices or stocks, will surely affect the economy of the rest of the world. For example, the data on the economic performance of China has a major or significant impact on the outcomes of FTSE 100 as well as in the other financial instruments in major economies.