Rio Tinto logo

RIO - Rio Tinto News Story

6575p 34.0  0.5%

Last Trade - 4:35pm

Basic Materials
Large Cap
Market Cap £105.90bn
Enterprise Value £109.75bn
Revenue £31.55bn
Position in Universe 11th / 1826

BUZZ-Aussie miners eye best week in six on strong earnings, China demand

Fri 19th February, 2021 5:08am
** Australia's metals and mining subindex  .AXMM  is on
track for its best week since Jan 8 and its third consecutive
weekly gain
    ** Stronger iron ore prices and upbeat earnings reports from
sector heavyweights BHP Group  BHP.AX  and Rio Tinto  RIO.AX 
supported the mining index this week*:nL4N2KN1BA*:nL1N2KL1KA
    ** Dalian iron ore futures jumped 7% overnight on
expectations for a rebound in demand as China returned from a
week-long Lunar New Year holiday  IRONORE/ 
    ** However, the subindex declined as much as 3.1% on Friday
as investors booked profits 
    ** "The people who bought (mining) stocks anticipating the
results are probably just taking the profits," said Henry
Jennings, senior analyst at Marcustoday Financial Newsletter
    ** Global miners BHP Group  BHP.AX  and Rio Tinto  RIO.AX 
fell as much as 2.9% and 3.8%, respectively
    ** Subindex has risen 7.3% this year, as of last close

 (Reporting by Vasudha Kaukuntla in Bengaluru)
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.