[Christian Harris]

The FTSE 100 took a hit on Friday, dipping over 0.60% as a perfect storm of bad news rattled investors.

JD Sports felt the Nike effect, tumbling more than 4% after the sportswear giant’s gloomy outlook.

Meanwhile, miners Antofagasta and Glencore got caught in a metals meltdown, shedding over 4% and 3%, respectively.

Travel stocks also experienced turbulence, with IAG and EasyJet losing altitude after a fire near Heathrow grounded flights.

Adding to the market jitters, UK public borrowing for February skyrocketed to £10.7 billion, blowing past the £7 billion forecast and marking the fourth-largest February deficit since 1993.

Despite Friday’s stumble, the FTSE 100 achieved a small weekly gain. The Bank of England’s decision to hold rates at 4.5% and maintain a cautious stance on future cuts provided some stability.

This mixed bag suggests traders closely monitor the retail, mining, and travel sectors in the coming weeks.

The unexpected surge in public borrowing could also spark volatility in UK bonds and the pound.

What’s your play in this choppy market? 🤔📊

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[Steve]

Despite the recent setback, mining stocks might be showing signs of a potential rebound. JPMorgan double-upgraded the metals and mining sector to “overweight” from “underweight”, predicting a v-shaped recovery in metals prices this year.

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[Christian Harris]

Looks like JPMorgan’s crystal ball is glowing for miners!

They’re not just dipping their toes in – they’ve gone full cannonball with that double upgrade.

Here’s the juicy bit: They’re eyeing a V-shaped recovery in metal prices, which could be music to investors’ ears.

Copper’s the star of the show, with forecasts of hitting $11,500/ton by Q2 2026. That’s a 15% jump from current levels!

But it’s not just about the shiny stuff. China’s economic stimulus is like rocket fuel for the sector.

And get this – mining stocks have been lagging behind metal prices by about 20% since early 2024. That gap’s just begging to be closed!

For the stock pickers out there, JPMorgan’s got some favourites: Rio Tinto, Antofagasta, and Fresnillo are getting the thumbs up in Europe.

Keep your hard hat on and your eyes peeled – this sector’s about to get interesting!

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