Mining stocks edge lower on weaker than expected China trade figures

London-listed mining stocks stumbled today after weaker than expected trade data from China overnight.

Chinese imports and exports both fell well short of forecasts last month. Exports grew 7.2 per cent year-on-year in July compared with expectations of an 11 per cent increase, while imports rose 11 per cent to miss forecasts of 16.6 per cent growth.

Although growth in overall trade was still healthy at 8.8 per cent, it was China's slowest this year.

Miners dipped lower on the news because of China's position as the top commodity buyer. At the time of publishing, Rio Tinto's stock was down 1.2 per cent to 3,593p, Randgold Resources was 1.11 per cent lower at 7,152.5p and Fresnillo was down 0.95 per cent at 1,462.5p.

Anglo American shares also edged down 0.76 per cent to 1,300p, BHP Billiton was 0.75 per cent lower at 1,385.75p and Glencore was 0.48 per cent down at 34.95p.

Mining stocks had been on the rise after data last month showed the Chinese economy grew faster than analysts were expecting in the second quarter of 2017.

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