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Trade idea: Buy mining shares
The mining sector is grossly undervalued and we could see double digit returns by the end of the year; that's according to Michael Jarman from H20 markets. He's recently upgraded the sector to "accumulate", based on a pick up in manufacturing and recent inflation data which was relatively subdued.
In his sights this Thursday are Glencore, Xstrata and Rio Tinto. Michael says they've dropped around ten per cent in the past year while the FTSE is up around 11%. Now he expects money to start flowing into basic resources as portfolio managers seek value.
01:14 minutes
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