European miners rise as metal prices outweigh medium-term demand worries

Nyrstar NV

14/10/2021 12:36

(Updates stock moves, adds analyst comment)
    ** European miners are among best performers on STOXX 600
index  .STOXX , getting boost from surging metal prices 
    ** STOXX basic resources index  .SXPP  is up over 2%, with
Boliden  BOL.ST , Polymetal  POLYP.L , Antofagasta  ANTO.L  and
Anglo American  AAL.L  among the biggest risers 
    ** Shares in Boliden  BOL.ST , which operates mines and
smelters in Sweden, Finland, Norway and Ireland, surge as much
as 5.3% after zinc prices hit their highest in 14 years
 urn:newsml:reuters.com:*:nL1N2RA0BY
    ** Stifel analyst Andrew Breichmanas says the stocks are
reacting to moves in the underlying commodities
    ** "The impact of the energy crisis on smelter capacity,
metal supply, and spot prices appears to be outweighing
increasingly bearish sentiment on medium-term demand given the
tightness in commodities markets", Breichmanas adds

 (Reporting by Anait Miridzhanian)
 ((anait.miridzhanian@thomsonreuters.com))