Sibanye-Stillwater jumps as China measures boost palladium prices

Quest Critical Metals

04/02/2020 17:30

** South African miner's U.S.-listed shares  SBGL.N  up ~5%
at $10.61 as palladium prices jump following economic stimulus
from top consumer China
    ** Prices of the precious metal  XPD=  were up 4.2% at
$2,417.50, after touching their highest since Jan. 27 at $2,425
 urn:newsml:reuters.com:*:nL4N2A43M3
    ** Beijing's efforts to brace for economic fallout from the
coronavirus epidemic included more government spending, tax
relief and subsidies for virus-hit sectors, policy sources said
    ** Canadian Palladium Resources  BULL.CD  up 5%, Grid Metals
Corp  GRDM.V  climbs 15% and Anglo American Platinum  AMSJ.J 
gains 6.5%    
    ** Separately, UBS raises palladium price forecasts to
$2,600/oz for end-September and $2,700/oz for end-December 2020
    ** SBGL stock has nearly tripled in the past year

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))