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Gold and oil firms advance in Shanghai
By Lydia Chen |
March 21, 2011, Monday
|
Online Edition
Online Edition
SHANGHAI stock index edged up today on strength of gold and coal producers, which rallied over advancing oil prices amid intensifying air strike in Libya.
The Shanghai Composite Index closed 0.16 percent higher at midday. Turnover climbed to 72.31 billion yuan (US$11 billion) from Friday morning's 68.4 billion yuan.
Zhongjin Gold Co, hiked 2.36 percent to 36.38 yuan while Shandong Gold Co jumped 3.07 percent to 48.04 yuan.
Gold climbed for a fourth day in Singapore this morning as United States, United Kingdom and France began air strikes over Libya. It drove energy prices higher amid growing demand for the metal as a haven.
China Shenhua Energy Co gained 1.41 percent to 28.78 yuan. PetroChina Co, the country's largest oil producer, advanced 1.56 percent to 11.57 yuan.
Crude oil for April delivery gained as much as US$2.28 to US $103.35 a barrel, in electronic trading on the New York Mercantile Exchange.
The Shanghai Composite Index closed 0.16 percent higher at midday. Turnover climbed to 72.31 billion yuan (US$11 billion) from Friday morning's 68.4 billion yuan.
Zhongjin Gold Co, hiked 2.36 percent to 36.38 yuan while Shandong Gold Co jumped 3.07 percent to 48.04 yuan.
Gold climbed for a fourth day in Singapore this morning as United States, United Kingdom and France began air strikes over Libya. It drove energy prices higher amid growing demand for the metal as a haven.
China Shenhua Energy Co gained 1.41 percent to 28.78 yuan. PetroChina Co, the country's largest oil producer, advanced 1.56 percent to 11.57 yuan.
Crude oil for April delivery gained as much as US$2.28 to US $103.35 a barrel, in electronic trading on the New York Mercantile Exchange.
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