Sector movers: Miners pace gains

This was 32% ahead of the $545m in the same cycle last year and 70% up on the last cycle of 2016.

Analysts at Credit Suisse said the results suggested end demand remained relatively robust.

In separate reports, the same broker also sounded a positive note on shares of Evraz and Global Mining, highlighting Glencore and Rio Tinto as two of its top picks within the latter.

Credit Suisse pointed to an apparent demand recovery, rising inflation and bond yields, positive earnings revisions and valuations together with ongoing debt reduction to back up its case.

The above came alongside another move higher in copper futures to their best level in roughly one year, with March 2017 copper futures up by 2.27% to $2.7075 a pound on COMEX.

In parallel, in overnight trading spot iron ore prices in China rose from $78.2 a tonne to $81.1.

As an aside, analysts at Capital Economics told clients that their China Activity Proxy suggested that the pace of GDP expansion in Asia´s largest economy reached a 6.8% year-on-year clip in December, its quickest pace in over three years.

"For the first time since 2011, our estimate of growth is no weaker than that shown by the official GDP data. But we don’t think this strength will be sustained. Growth is likely to peak soon."

Top performing sectors so far today

Mining 17,178.71 +3.79%
Industrial Metals & Mining 2,351.79 +3.47%
Automobiles & Parts 8,089.71 +1.50%
Tobacco 54,676.63 +0.93%
Construction & Materials 6,848.70 +0.92%

Bottom performing sectors so far today
Fixed Line Telecommunications 3,506.75 -19.36%
Mobile Telecommunications 4,463.58 -1.91%
Food & Drug Retailers 2,995.83 -1.51%
Food Producers & Processors 7,422.26 -1.50%
General Retailers 2,396.98 -1.25%