Within the global stock markets universe, listed mining stocks have staged the leading recovery, in percentage terms, from price troughs, generally seen during October and November 2008. This is a notable performance, given that banking stocks, especially in certain well know countries, were severely sold down; some disappeared or were swallowed up by bigger rivals. The world's biggest 100 mining companies, by market value, have now bounced by 141% on average, measured on a weighted average basis. Confidence in mining stocks has increased for fundamental reasons; among the latest, China's manufacturing has expanded for a third successive month, and the country has increased fuel prices.

How does rising fuel prices (not to mention rising global oil prices) translate into higher mining stock prices? Last I checked, fuel was a major cost for these guys.

ebear