Gold and copper miners back in fashion
Published: 04:11 09 Jul 2026 EDT
Mining stocks dominated the FTSE 350 risers on Thursday as stronger metals prices boosted sentiment across the sector.
Precious metals miners led the way, with Pan African Resources PLC (LSE:PAF, OTCQX:PAFRY) rising 4.7%,followed by Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF), which gained 3.9%, while Atalaya Mining Copper (LSE:ATYM, TSX:AYM), Endeavour Mining PLC (LSE:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:FRES) all up over 2%.
Among base metals producers, copper focused Antofagasta PLC (LSE:ANTO) climbed 4.0%, Glencore PLC (LSE:GLEN) added 3.8% and Anglo American PLC (LSE:AAL) climbed 3.6%, while Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) also traded 1.8% higher.
US copper climbed 1.8% to $6.16 per lb, silver gained 1.6% to $59 an ounce and gold rose 0.8% to $4,106.
Market analyst Richard Hunter at Interactive Investor said mining stocks were "temporarily squarely back in fashion".
Antofagasta was bolstered by a broker upgrade from JPMorgan to 'overweight' from 'neutral', boosting its share price target significantly to 4,500p from 3,400p.
After markets fell sharply on the resumption of strikes between the US and Iran, European and Asian stocks were mostly higher on Thursday, seemingly taking confidence from President Trump being reported as saying that Iran still wanted to agree a peace deal.
