Rio Tinto boosts FTSE 100, worries of recession fade

Anglo-Australian miner Rio Tinto rose 0.9% after signing a joint venture with Canada's First Quantum Minerals Ltd to develop the La Granja copper project in Peru. Industrial metals miners housing Rio Tinto added 0.3% by 0721 GMT.

UK's FTSE 100 inched up on Friday as miner Rio Tinto rose after signing a partnership to develop a copper project, while relief that the domestic economy avoided a recession last year also aided sentiment.

Data by the Office for National Statistics showed UK's economy grew in the fourth quarter as the country narrowly avoided a recession. Economic output increased 0.1% in the October to December period, while it was expected that the economy would not show any growth. Anglo-Australian miner Rio Tinto rose 0.9% after signing a joint venture with Canada's First Quantum Minerals Ltd to develop the La Granja copper project in Peru.

Industrial metals miners housing Rio Tinto added 0.3% by 0721 GMT. The commodity heavy FTSE 100 was up 0.1%, while the FTSE 250 was flat.

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