Caution needed in spades over mining sector revival A commodities super-cycle sounds like a good thing - but listed miners are great at digging themselves into financial holes 12 February 2021 • 6:00am Britain’s FTSE 100 index has lagged global peers since the Great Financial Crisis sparked an implosion in the banking sector more than a decade ago. This underperformance was exacerbated by a fall in oil prices, hitting some of the largest components of the index. But things may be about to improve. Wall Street investment banks Goldman Sachs and JP Morgan claim a new commodities super-cycle is under way, driven by the rush to clean energy. This should help boost the shares in an underperforming sector, but also has implications for the FTSE 100 itself as basic materials has a 13.5pc weighting in the index.