Mining stocks 'popular with traders'

Those trading on the stock market are continuing to show an interest in mining stocks.

This is according to chief executive of TD Waterhouse Angus Rigby, who explained that Rio Tinto has proven especially popular among buyers this week.

Almost 75 per cent of the top ten trades were buys and Mr Rigby noted that news that the UK has moved out of recession may have ’spurred’ retail investors to make purchases.

’Retail traders appeared to be looking to take advantage of the average 6.08 per cent fall in banking sector shares last week,’ he remarked, noting that the move has come after Barack Obama outlined plans that would affect proprietary trading.

A positive review for the mining sector from Goldman Sachs has further boosted the market today, Reuters reports, with Rio Tinto, Lonmin, BHP Billiton, Xstrata, Antofagasta and Randgold Resources climbing by between 0.7 per cent and 2.3 per cent at 08:52 GMT.ADNFCR-2318-ID-19586546-ADNFCR