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RIO - Rio Tinto News Story

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Sector
Basic Materials
Size
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  urn:newsml:reuters.com:*:nL4N2KN1BA urn:newsml:reuters.com:*: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)
 ((Vasudha.Kaukuntla@thomsonreuters.com))
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